Abstract
AbstractWe study the relation between electoral politics and government small-business lending, employment, and business formation. We construct novel measures of electoral importance capturing swing and base voters using data from Facebook ad spending, independent political expenditures, the Cook Political Report, and campaign contributions. We find that businesses in electorally important states, districts, and sectors receive more loans following the onset of the COVID-19 crisis, controlling for funding demand and both health and economic conditions. Estimates from survey and observational data show that electoral politics and the allocation of government funds affect employment, small-business activity, and business applications.
Publisher
Cambridge University Press (CUP)
Subject
Economics and Econometrics,Finance,Accounting
Reference59 articles.
1. Allocating the U.S. Federal Budget to the States: The Impact of the President
2. Jones, J. M. “Trump Third Year Sets New Standard for Party Polarization,” Gallup (Jan. 21, 2020).
3. Politicians and banks: Political influences on government-owned banks in emerging markets
4. Committee Position, Seniority, and Distribution of Government Expenditures;Ritt;Public Policy,1976
Cited by
13 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献