Replication Data for: Partisan shocks and financial markets: evidence from close national elections
Principal Investigator(s): View help for Principal Investigator(s) Daniele Girardi, University of Massachusetts-Amherst
Version: View help for Version V1
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| Replication_files | 11/20/2019 10:47:AM | ||
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application/pdf | 45 KB | 10/18/2019 11:42:AM |
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application/rtf | 6.8 KB | 11/20/2019 05:41:AM |
Project Citation:
Girardi, Daniele. Replication Data for: Partisan shocks and financial markets: evidence from close national elections. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-09-23. https://doi.org/10.3886/E115008V1
Project Description
Summary:
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This paper estimates the effect of partisan electoral victories on stock and bond markets. We employ a regression discontinuity-based event study in a sample of 758 worldwide post-1945 national elections, using existing data on parliamentary elections and newly-collected data on presidential elections. Left-wing electoral victories cause significant and substantial short-term decreases in stock-market valuations, while the response of sovereign bond markets is mostly muted. Stock market effects are stronger and more persistent in elections in which the left’s proposed economic policy is more radical and in developing economies.
Scope of Project
Subject Terms:
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Elections;
Financial Markets;
Left;
Regression-discontinuity;
Event-study;
Partisanship
JEL Classification:
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D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
E02 Institutions and the Macroeconomy
N20 Economic History: Financial Markets and Institutions: General, International, or Comparative
P16 Capitalist Systems: Political Economy
D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
E02 Institutions and the Macroeconomy
N20 Economic History: Financial Markets and Institutions: General, International, or Comparative
P16 Capitalist Systems: Political Economy
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