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MPs For Sale? Estimating Returns to Office in Post-War British Politics

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Abstract:

While the role of money in policymaking is a central question in political economy research, surprisingly little attention has been given to the rents politicians actually derive from politics. We use both matching and a regression discontinuity design to analyze an original dataset on the estates of recently deceased British politicians. We find that serving in Parliament roughly doubled the wealth at death of Conservative MPs but had no discernible effect on the wealth of Labour MPs. We argue that Conservative MPs profited from office in a lax regulatory environment by using their political positions to obtain outside work as directors, consultants, and lobbyists, both while in office and after retirement. Our results are consistent with anecdotal evidence on MPs' outside financial dealings but suggest that the magnitude of Conservatives' financial gains from office was larger than has been appreciated.

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q (255), candid (181), wealth (113), o (104), mps (94), conserv (87), qq (87), ce (86), e (83), year (79), ect (79), estim (78), polit (66), 1 (63), 000 (56), match (55), mp (52), death (52), serv (50), di (50), 0.00 (49),

Author's Keywords:

British Politics, political economy, political rents, regression discontinuity
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Name: MPSA Annual National Conference
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http://www.indiana.edu/~mpsa/


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MLA Citation:

Eggers, Andy. and Hainmueller, Jens. "MPs For Sale? Estimating Returns to Office in Post-War British Politics" Paper presented at the annual meeting of the MPSA Annual National Conference, Palmer House Hotel, Hilton, Chicago, IL, Apr 03, 2008 <Not Available>. 2013-12-14 <http://citation.allacademic.com/meta/p265681_index.html>

APA Citation:

Eggers, A. and Hainmueller, J. , 2008-04-03 "MPs For Sale? Estimating Returns to Office in Post-War British Politics" Paper presented at the annual meeting of the MPSA Annual National Conference, Palmer House Hotel, Hilton, Chicago, IL Online <APPLICATION/PDF>. 2013-12-14 from http://citation.allacademic.com/meta/p265681_index.html

Publication Type: Conference Paper/Unpublished Manuscript
Abstract: While the role of money in policymaking is a central question in political economy research, surprisingly little attention has been given to the rents politicians actually derive from politics. We use both matching and a regression discontinuity design to analyze an original dataset on the estates of recently deceased British politicians. We find that serving in Parliament roughly doubled the wealth at death of Conservative MPs but had no discernible effect on the wealth of Labour MPs. We argue that Conservative MPs profited from office in a lax regulatory environment by using their political positions to obtain outside work as directors, consultants, and lobbyists, both while in office and after retirement. Our results are consistent with anecdotal evidence on MPs' outside financial dealings but suggest that the magnitude of Conservatives' financial gains from office was larger than has been appreciated.

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Associated Document Available Political Research Online

Document Type: application/pdf
Page count: 51
Word count: 15999
Text sample:
MPs For Sale? Estimating Returns to Office in Post-War British Politics Andy Eggers – Harvard University Jens Hainmueller – Harvard University March 22 2008 While the role of money in policymaking is a central question in political econ- omy research surprisingly little attention has been given to the rents politi- cians actually derive from politics. We use both matching and a regression discontinuity design to analyze an original dataset on the estates of recently de- ceased British politicians. We
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