Economic voting in Spain: A 2000 panel test

Considerable research shows the economy matters for voters. But that view has come under attack, with revisionists arguing that it matters little. This dissenting view fits the Spanish case well, where reigning research finds virtually no economic voting exists. We argue against the revisionist view, suggesting that conclusion stems largely from methodological limitations in its supporting cross-sectional survey analyses. Given the causality question these analyses raise, particularly in the context of likely endogeneity, a panel analysis is called for. We examine the most recent available panel survey, from the 2000 general election, estimating fully specified multinomial logit models. We find strong economic effects. Spain appears, after all, to have an electorate capable of holding the government economically accountable, at least in this instance.