Determinants of Economic Growth: Supplemental Note
In: Darden Case No. UVA-GEM-0204
19 Ergebnisse
Sortierung:
In: Darden Case No. UVA-GEM-0204
SSRN
SSRN
In: NBER Working Paper No. w31183
SSRN
In: Journal of international economics, Band 139, S. 103680
ISSN: 0022-1996
SSRN
Working paper
SSRN
Working paper
In: PIER Working Paper No. 14-043
SSRN
Working paper
In: NBER Working Paper No. w31078
SSRN
In: Journal of international economics, Band 139, S. 103631
ISSN: 0022-1996
In: Darden Business School Working Paper No. 3806435, 2021
SSRN
In: FEDS Working Paper No. 2021-005 https://doi.org/10.17016/FEDS.2021.005
SSRN
In: FEDS Working Paper No. 2021-005R1
SSRN
Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and that public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links information on campaign contributions, state legislative elections, firm characteristics, and ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally show that politically connected firms are 38 percent more likely to secure a grant. Based on an instrumental variable approach, we also establish that a one standard deviation increase in the share of politically connected ARRA spending lowers the number of jobs created per $1 million spent by 7.1 jobs. Therefore, the impact of fiscal stimulus is not only determined by how much is spent, but also by how the expenditure is allocated across recipients.
BASE
SSRN
Working paper
In: NBER Working Paper No. w24560
SSRN
Working paper