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29
Table 4: Effects of Term Limits on Expenditures Per Capita in Initiative States, 1977-
2001.
Exp. Per Capita
Term Limits
79.0
(13.6)**
Balanced Budget
-291
(23.3)**
Supermajority requirements
50.2
(15.9)**
Tax and Expenditure Limits
-52.9
(14.4)**
TEL*Income
.002
(.0008)**
Divided government
-37.1
(5.92)**
Governor (1=Democrat)
-27.5
(7.84)**
Income
.074
(.004)**
Population
-.00001
(.000002)**
Unemployment rate
2.99
(3.01)
Observations
550
Number of states
22
Number of years
25
Pseudo-R
2
.42
All estimates include fixed effects for states and years (not reported).
Entries are regression coefficients from panel data regression models. Figures in
parenthesis are standard errors.
**p<.05.
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