2018 Fiscal Year Final Research Report
Theoretical Study on Political Economy for Public Infrastructure and Vertical Fiscal Transfer
| Project/Area Number |
16K17130
|
|---|
| Research Category |
Grant-in-Aid for Young Scientists (B)
|
| Allocation Type | Multi-year Fund |
|---|
| Research Field |
Public finance/Public economy
|
|---|
| Research Institution | Hitotsubashi University |
|---|
Principal Investigator |
|
|---|
| Research Collaborator |
Kam Timothy Australian National University, Research School of Economics, Associate Professor
|
|---|
| Project Period (FY) |
2016-04-01 – 2019-03-31
|
| Keywords | 政治的財政循環 |
|---|
| Outline of Final Research Achievements |
This research project empirically studied the political-budget-cycle hypothesis, i.e, how the timing of national elections affects government expenditures (e.g., expenditures in public infrastructure). Specifically, this project made a cross-country panel data analysis from 1996 to 2016, which showed that the hypothesis was statistically significant in countries with higher GDP, but not in countries with lower GDP. The existing studies imply that this result would stem from differences in time discount factor of electorates for public good consumption.
|
| Free Research Field |
政治経済学
|
| Academic Significance and Societal Importance of the Research Achievements |
本研究プロジェクトは、元々、規範的な「べき論」（財政政策は、こうあるべき）ではなく、実証的な観点から、現実の財政政策を説明する知見を提供することを意図している。本研究の理論的拠り所とした、政治的財政循環とは、政治が経済に与える影響の一つであるが、現実の財政運営は、このような実態を踏まえる必要がある。本研究で明らかにした、「経済の発展（GDPの水準）に応じて、政治的財政循環が観察できなくなる」という現象は、経済と民主主義の同時発展を示唆しており、実証的な観点から興味深い知見である。
|
