Campaign-Finance Reform: A Public Choice Perspective

The Federal Election Campaign Act as passed in 1971 and amended in 1974represented landmark federal legislation. It imposed new restrictions oncampaign contributions and contained path-breaking provisions for the useof public funds to partially finance the campaigns of qualifyingpresidential candidates. The nominal intent of the legislation was torestrain the skyrocketing campaign costs and the feared abuses thatgrowing dependencies on such money engendered. Three decades later, withthe campaign spending ``arms race'' still raging. Congress sought toimpose further constraints on campaign spending with enactment of theBipartisan Campaign Reform Act of 2002 (BCRA). Competing theories ofgovernment regulation are reviewed to better understand the intent andlikely consequences of the 2002 legislation in particular and campaignfinance regulation in general. A simple model of the campaign spendingprocess highlights the likely causes of the rapid growth in campaignspending. Data and evidence are presented to test hypotheses concerningthe timing of and underlying motivations for BCRA.     

Exchange rate evidence on the effectiveness of United Nations policy

This paper analyzes the effectiveness of international interventions through their impact on exchange rates. If a specific intervention actually increases (decreases) a country's economic and political stability, then its currency should appreciate (depreciate). Estimates suggest that peacekeeping forces in Lebanon caused long-run appreciations, while economic sanctions imposed upon South Africa only caused temporary depreciations. In both cases, repeated U.N. resolutions condemning or demanding actions, that were not backed by actual interventions, did not cause changes in the exchange rate. The results in this paper are supportive of predictions from the public choice approach applied to international organizations and policies.     

Does it pay to break male gender stereotypes in advertising? A comparison of advertisement effectiveness between the United Kingdom,Poland and South Africa

Advertisers shy away from using non-traditional (vs. traditional) male gender portrayals even though theory suggests they may be more effective cross-nationally. Two main hypotheses were tested cross-nationally for the first time. H1: ‘paternalistic’ male stereotypes (e.g. Househusband) would be more effective than ‘envious’ male stereotypes (e.g. Businessman) across countries confirming the stereotype content model (SCM). H2: the match between initial male gender role attitudes and advertisement type would increase advertisement effectiveness only in countries with relatively low egalitarian norms (i.e. Poland and South Africa). A cross-national study was conducted through the use of student samples following a 3(country: United Kingdom, Poland and South Africa) × 2(advertisement type) × (gender attitude) mixed design (N = 373). A three-way multivariate analysis of variance showed support for H1 and partial support for H2 (i.e. the second hypothesis held on purchase intent and for South Africa). The study provides evidence for the cross-national applicability of the SCM to advertising and the limited predictive value of gender attitudes for purchase intent depending on country. Thus, contrary to mainstream advertising practices, breaking male gender stereotypes does appear to pay cross-nationally. Theoretical and practical implications alongside the potential for change in practices are discussed.     

Girl Power: Stipend Programs and the Education of Younger Siblings

We examine the effects of the schooling of girls on the education of their younger siblings. To examine the causal effect of the education of older children on their younger siblings, we use the introduction of a gender-targeted conditional cash transfer program – the Female Secondary School Stipend Program (FSSSP) in Bangladesh. We find that an additional year of schooling of older siblings increases schooling of their younger siblings by 0.13 years. The stipend program accounts for about a 10 per cent increase in the schooling of younger siblings. The results suggest that stipend programs can bring both short- and long-term gains, not only via direct benefits to affected children, but also via indirect benefits to their siblings.