{"title":"Incorporated in Westminster: Channels and Returns to Political Connection in the United Kingdom","authors":"Colin P. Green, Swarnodeep Homroy","doi":"10.2139/ssrn.3279041","DOIUrl":"https://doi.org/10.2139/ssrn.3279041","url":null,"abstract":"The connection between politicians and firms remains a controversial issue. This reflects a tension between the potential capture of politicians and the ability to attract high productivity individuals with business experience to representative politics. We examine this issue focusing on the firm value effect of a change in parliamentary regulation in the U.K. that allowed active members of parliament (MPs) with corporate affiliations to participate in parliamentary debates on issues related to their corporate interests. Using this as a source of exogenous variation in the political value of these MPs to firms, we find that firms with political connections to MPs experienced positive abnormal returns around the event. We provide a range of additional evidence that suggests that these returns reflect an expectation of increased influence. Firms with non-MP political connections had no change in firm value in the same time-window. Politically connected firms reduce political donations after the change in regulation. Together our results indicate that political influence is a substantial component of the financial returns from political connections, even in countries with low corruption and well-developed institutions. These connections are unlikely to be socially desirable.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127378177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Role of Central Agencies in Public Policy Development and Implementation","authors":"G. Hassall","doi":"10.2139/SSRN.2720045","DOIUrl":"https://doi.org/10.2139/SSRN.2720045","url":null,"abstract":"This paper presented to the 4th Commonwealth Pacific Forum of Central Agencies, on the theme \"Strengthening Public Policy Development and Implementation Process\", held in Samoa in May 2015, argues that the main public sector challenges in the Small Island Developing States of the Pacific Islands are to establish and maintain a clear vision, to build capability, strengthen connectivity, and to innovate judiciously.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"517 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123065009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Empirical Analysis of Legal Institutions and Institutional Change: Multiple-Methods Approaches and Their Application to Corporate Governance Research","authors":"J. Buchanan, D. Chai, S. Deakin","doi":"10.2139/ssrn.2394681","DOIUrl":"https://doi.org/10.2139/ssrn.2394681","url":null,"abstract":"The claim that institutions matter for economic growth and development has so far received a more extensive theoretical treatment than an empirical or methodological one. Basing our approach on a coevolutionary conception of relations between law and the economy, we link theory to method and explore three techniques for analysing legal institutions empirically: ‘leximetric’ measurement of legal rules, time-series econometrics, and interview-based fieldwork. We argue that while robust measurement of institutions is possible, quantitative techniques have their limits, and should be combined with fieldwork in a multiple-methods approach.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122570734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"West Bengal Needs a Long Term Industrial Policy to Exploit its Unique Core Competencies","authors":"D. Dey","doi":"10.2139/ssrn.2246632","DOIUrl":"https://doi.org/10.2139/ssrn.2246632","url":null,"abstract":"The center of gravity of global economy has shifted to East Asia. In this changed circumstance, West Bengal (India) is destined to play its historical role in the economic and political development of this subcontinent. And to execute this responsibility, effectively and efficiently, the political leadership of the state should formulate a long term strategy taking into account the emerging opportunities and core competencies of its resources- both natural and human. It is argued that while developing agricultural and industrial policies of West Bengal, the unique characteristics of its land (fertility) and inhabitants (capacity to appreciate leisure) have to be kept in mind and be given due importance. Instead of considering ‘idleness’ as a ‘weakness’, the policy makers should treat this trait of its inhabitants as ‘strength’ and develop appropriate plans to make Bengal the ‘cultural capital’ of the country. The basic infrastructure is already in place to make it emerge as the knowledge hub of India. This can only be made possible if the state develops and implements a unique model of education system of its own.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117240376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Poverty Alleviation Programs in South Asia and Latin America: How the Governments Provided Public Goods in Order to Set Up Inclusive States (2000-2017)","authors":"Enrique Vásquez","doi":"10.2139/ssrn.3443682","DOIUrl":"https://doi.org/10.2139/ssrn.3443682","url":null,"abstract":"During the 2000-2017 period, most Latin American and South Asian countries experienced relatively high rates of economic growth and their poverty rates reduced significantly. Although economic growth by itself is an important variable when discussing poverty, the redistributive role of the State is equally important to attain more equitable and inclusive societies. Generally, this role is embodied in poverty alleviation programs (PAPs). This paper focuses on the experience of the above-mentioned regions regarding the implementation and effectiveness of PAPs. These are compared, which serves to obtain lessons from both continents’ countries regarding six important aspects of the development of the programs. From this analysis we obtain six lessons for the implementation of new PAPs and the improvement of existing ones. These lessons include the need for complete information systems, as well as a standardizing the process of delivery of public goods. Moreover, the importance of providing information to the beneficiaries is highlighted, along with the key role that monitoring plays.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126001098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Conflicts in the Middle of Macroeconomic Uncertainty in Argentina. 2000–2017","authors":"Enrique Vásquez","doi":"10.2139/ssrn.3443719","DOIUrl":"https://doi.org/10.2139/ssrn.3443719","url":null,"abstract":"After the crisis of 2001, Argentina has shown a positive economic development. Between 2003 and 2011, Argentina had a growth rate between 6% and 9%, with exception of 2009. These economic results reflected in an improvement of the social indicators. Poverty decreased to 13.9% in 2013 and inequality reduced to 0.406 in 2017 according to the Gini Index. Despite the promising results, Argentina’s society has been continuously accompanied by social conflicts. Movements against the economic crisis of 2002 and claiming for better labour conditions have been the most remarkable. The aim of this paper is to explain the existence – or not – of the paradox between economic performance and social conflicts in Argentina between 2000 and 2017.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115859939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Protection Under Good Economic Performance but Social Strain: Lessons From the Latin American Experience (2000–2017)","authors":"Enrique Vásquez","doi":"10.2139/ssrn.3443634","DOIUrl":"https://doi.org/10.2139/ssrn.3443634","url":null,"abstract":"During 2000-2017, Latin America (LA) achieved an annual growth rates of GDP of 2.6%. This generated an increase in the average monthly salary and a reduction in the Gini index. However, said improvements were unequal among the region, causing social strain and discontent in the groups that were not benefited by the economic growth. In response, governments built social protection networks that were meant to promote greater equity and increase the impact of growth on poverty. This paper aims to get lessons from LA experiences of actions taken by the governments, during the years 2000 and 2017, in order to boost opportunities. To achieve this, an analysis of the social protection networks is made around six key elements of management: identification of beneficiaries, supply chain management of public goods, system of information, education and training, monitoring and evaluation systems, process of graduation and, institutional coordination.","PeriodicalId":150523,"journal":{"name":"PSN: Other Development & Political Institutions (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126329149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}