@article{Herzog2017,
  author    = {Herzog, Bodo},
  title     = {Does transparency mitigate the political budget cycle?},
  journal   = {Journal of economic studies},
  volume    = {44},
  number    = {5},
  issn      = {0144-3585},
  doi       = {10.1108/JES-07-2016-0132},
  institution = {ESB Business School},
  pages     = {666 -- 689},
  year      = {2017},
  abstract  = {The purpose of this paper is to study the impact of transparency on the political budget cycle (PBC) over time and across countries. So far, the literature on electoral cycles finds evidence that cycles depend on the stage of an economy. However, the author shows - for the first time - a reliance of the budget cycle on transparency. The author uses a new data set consisting of 99 developing and 34 Organization for Economic Cooperation and Development countries. First, the author develops a model and demonstrates that transparency mitigates the political cycles. Second, the author confirms the proposition through the econometric assessment. The author uses time series data from 1970 to 2014 and discovers smaller cycles in countries with higher transparency, especially G8 countries.},
  language  = {en}
}