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Political business cycles in post-communist European countries
journal contribution
posted on 2021-10-07, 13:26 authored by Abdullo Pulatov, Ahmad Hassan AhmadAhmad Hassan AhmadThis paper analyses political business cycles in ten former European communist countries. The
dataset used covers the period 1990-2018. The results show that the political business cycle
(PBCs) manifests itself in these countries through both fiscal and monetary policy. Changes in
government expenditure during election times are found to be significant in reducing
unemployment. Hence, it signals there is a politically driven fiscal expansion. The results also
show the importance of institutional quality in reducing the effects of the PBCs. The monetary
policy models indicate that changes in money stock during and around election times affects
the unemployment rate. Undertaking a sub-sample analysis of the non-EU and EU members
highlights the case that membership of the EU is an important factor in preventing the
development of PBCs.
History
School
- Business and Economics
Department
- Economics
Published in
Politics and PolicyVolume
49Issue
5Pages
1248-1269Publisher
WileyVersion
- VoR (Version of Record)
Rights holder
© The authorsPublisher statement
This is an Open Access Article. It is published by Wiley under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/Acceptance date
2020-12-15Publication date
2021-07-02Copyright date
2021ISSN
1555-5623eISSN
1747-1346Publisher version
Language
- en
Depositor
Dr Ahmad Hassan Ahmad. Deposit date: 2 June 2021Usage metrics
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