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Political budget cycle of regional expenditures
Bendžíková, Iva ; Šťastná, Lenka (advisor) ; Holub, Tomáš (referee)
Decisions of elected politicians affect all citizens of a given territory without any exception, for the next few years. For that reason, many potential voters try to analyze the former behavior of possible candidates, since they assume the consistency in the previous behavior and decision- making with their performance in the following period. This paper provides a unique disaggregated view of selected items of regional budgets that have not been investigated in connection with the existence of political-budget cycles in existing empirical research yet. The econometric analysis of panel data collected from thirteen regions (due to its specific nature Prague is not considered) over the period 2001-2016 unambiguously confirmed the existence of political-budget cycles at the regional level in the Czech Republic, that is characterized by a significant increase in total current and capital expenditures in the pre- electoral and the electoral years in comparison with the non-electoral years. In accordance with the further hypothesis of the thesis, we observe the significant increase especially in groups of spending that are attractive and easily recognizable to voters. These include for example expenditures on health, culture or environmental protection. Moreover, it has been proven, that some...
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