IDEAS home Printed from https://ideas.repec.org/a/kap/pubcho/v111y2002i1-2p73-104.html
   My bibliography  Save this article

Russian Voting and the Initial Economic Shock of Hyperinflation

Author

Listed:
  • Filippov, Mikhail G

Abstract

This paper addresses the issue of economic voting in transitional democracies using data from the Russian federal elections. It argues that the shock of inflation that followed the fundamental economic reform has a lasting influence on voters. Specifically, it shows that in Russia, where inflationary policy led to hyperinflation and the widespread loss of personal savings, the magnitude of savings lost at that time continues to explain a significant portion of the variation in the regional support for the Communist party in parliamentary and presidential elections. Copyright 2002 by Kluwer Academic Publishers

Suggested Citation

  • Filippov, Mikhail G, 2002. "Russian Voting and the Initial Economic Shock of Hyperinflation," Public Choice, Springer, vol. 111(1-2), pages 73-104, March.
  • Handle: RePEc:kap:pubcho:v:111:y:2002:i:1-2:p:73-104
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0048-5829/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Leitzel, Jim, 1998. "Goods Diversion and Repressed Inflation: Notes on the Political Economy of Price Liberalization," Public Choice, Springer, vol. 94(3-4), pages 255-266, March.
    2. R McKinnon, 1991. "Financial Control in the Transition to a Market Economy," CEP Discussion Papers dp0040, Centre for Economic Performance, LSE.
    3. van Wijnbergen, S., 1993. "Intertemporal speculation, shortages and the political economy of price reform," Other publications TiSEM 634903e7-f3cf-40e9-9868-2, Tilburg University, School of Economics and Management.
    4. Wojciech Charemza & Richard E. Quandt, 1982. "Models and Estimation of Disequilibrium for Centrally Planned Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(1), pages 109-116.
    5. John H Cochrane & Barry W Ickes, 1991. "Inflation Stabilization in Reforming Socialist Economies: The Myth of the Monetary Overhang," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 33(2), pages 97-122, July.
    6. Mokhtari, Manouchehr & Gregory, Paul R, 1993. "Backward Bends, Quantity Constraints, and Soviet Labor Supply: Evidence from the Soviet Interview Project," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 221-242, February.
    7. Shoukang Lin, 1993. "A Monetary Model of a Shortage Economy," IMF Staff Papers, Palgrave Macmillan, vol. 40(2), pages 369-394, June.
    8. Pickersgill, Joyce, 1980. "Recent Evidence on Soviet Households Saving Behavior," The Review of Economics and Statistics, MIT Press, vol. 62(4), pages 628-633, November.
    9. Portes, Richard, 1981. "Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies," Economic Inquiry, Western Economic Association International, vol. 19(4), pages 559-578, October.
    10. van Wijnbergen, Sweder, 1992. "Intertemporal Speculation, Shortages and the Political Economy of Price Reform," Economic Journal, Royal Economic Society, vol. 102(415), pages 1395-1406, November.
    11. Ronald I. McKinnon, 1991. "Financial Control in the Transition from Classical Socialism to a Market Economy," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 107-122, Fall.
    12. Kaser, Michael, 1990. "The Technology of Decontrol: Some Macroeconomic Issues," Economic Journal, Royal Economic Society, vol. 100(401), pages 596-615, June.
    13. Mr. Mario I. Bléjer & Mr. Carlo Cottarelli, 1991. "Forced Savings and Repressed Inflation in the Soviet Union: Some Empirical Results," IMF Working Papers 1991/055, International Monetary Fund.
    14. Powers, Denise V. & Cox, James H., 1997. "Echoes from the Past: The Relationship between Satisfaction with Economic Reforms and Voting Behavior in Poland," American Political Science Review, Cambridge University Press, vol. 91(3), pages 617-633, September.
    15. van Wijnbergen, S., 1991. "Intertemporal Speculation, Shortages and the Political Economy of Price Reform," Other publications TiSEM 1340a8bd-1389-4148-b21a-6, Tilburg University, School of Economics and Management.
    16. Ong, Li Lian, 1997. "Burgernomics: the economics of the Big Mac standard," Journal of International Money and Finance, Elsevier, vol. 16(6), pages 865-878, December.
    17. Jim Leitzel, 1998. "Goods diversion and repressed inflation: Notes on the political economy of price liberalization," Public Choice, Springer, vol. 94(3), pages 255-266, March.
    18. D. M. Nuti, 1986. "Hidden And Repressed Inflation In Soviet-Type Economies: Definitions, Measurements And Stabilisation," Contributions to Political Economy, Cambridge Political Economy Society, vol. 5(1), pages 37-82.
    19. Kramer, Gerald H., 1983. "The Ecological Fallacy Revisited: Aggregate- versus Individual-level Findings on Economics and Elections, and Sociotropic Voting," American Political Science Review, Cambridge University Press, vol. 77(1), pages 92-111, March.
    20. Richard Portes & David Winter, 1980. "Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 137-159.
    21. Bloom, Howard S. & Price, H. Douglas, 1975. "Voter Response to Short-Run Economic Conditions: the Asymmetric Effect of Prosperity and Recession," American Political Science Review, Cambridge University Press, vol. 69(4), pages 1240-1254, December.
    22. Bornier Jean Magnan de & Norpoth H. & Lewis-Beck M.S. & Lafay J.D., 1991. "Economics and Politics The calculus of support," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 2(4), pages 579-581, December.
    23. Carlo Cottarelli & Mario I. Blejer, 1992. "Forced Saving and Repressed Inflation in the Soviet Union, 1986-90: Some Empirical Results," IMF Staff Papers, Palgrave Macmillan, vol. 39(2), pages 256-286, June.
    24. Bennett, John, 1994. "Queuing and the Price Level under Repressed Inflation," Oxford Economic Papers, Oxford University Press, vol. 46(1), pages 68-82, January.
    25. Polterovich, Victor, 1993. "Rationing, Queues, and Black Markets," Econometrica, Econometric Society, vol. 61(1), pages 1-28, January.
    26. Gur Ofer & Joyce Pickersgill, 1980. "Soviet Household Saving: A Cross-Section Study of Soviet Emigrant Families," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(1), pages 121-144.
    27. Bennett, John & Boycko, Maxim, 1995. "Savings and Stabilization Policy in a Pre-Post-Socialist Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(3), pages 907-919, August.
    28. Kramer, Gerald H., 1971. "Short-Term Fluctuations in U.S. Voting Behavior, 1896–1964," American Political Science Review, Cambridge University Press, vol. 65(1), pages 131-143, March.
    29. Gene Hsin Chang, 1994. "Monetary Overhang: Do Centrally Planned Economies Have Excessive Money Stocks?," Contemporary Economic Policy, Western Economic Association International, vol. 12(3), pages 79-90, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Erwin Nijsse & Elmer Sterken,, 1996. "Shortages, interest rates, and money demand in Poland, 1969-1995," Working Papers 25, Centre for Economic Research, University of Groningen and University of Twente.
    2. C. Martinelli & M. Tommasi, 1997. "Sequencing of Economic Reforms in the Presence of Political Constraints," Economics and Politics, Wiley Blackwell, vol. 9(2), pages 115-131, July.
    3. Kim, Byung-Yeon, 1999. "The Income, Savings, and Monetary Overhang of Soviet Households," Journal of Comparative Economics, Elsevier, vol. 27(4), pages 644-668, December.
    4. Slobodan Djajić, 1999. "Shortages, Hoarding and Parallel‐Market Premia in an Economy with Administered Prices," Review of Development Economics, Wiley Blackwell, vol. 3(1), pages 1-10, February.
    5. Debra Patterson, 1999. "An open-economy transition model," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 5(1), pages 24-36, February.
    6. Hans J. Czap & Kanybek D. Nur-tegin, 2011. "Big Bang vs. Gradualism – A Productivity Analysis," EuroEconomica, Danubius University of Galati, issue 29, pages 38-56, August.
    7. Kim, Byung Yeon, 1997. "Soviet Household Saving Function," Economic Change and Restructuring, Springer, vol. 30(2-3), pages 181-203.
    8. Mehlum, Halvor, 2001. "Capital accumulation, unemployment, and self-fulfilling failure of economic reform," Journal of Development Economics, Elsevier, vol. 65(2), pages 291-306, August.
    9. Diwan, Ishac & Saldanha, Fernando, 1991. "Long term prospects in Eastern Europe : the role of external finance in an era of change," Policy Research Working Paper Series 695, The World Bank.
    10. Gilles Saint-Paul, 2000. "The "New Political Economy": Recent Books by Allen Drazen and by Torsten Persson and Guido Tabellini," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 915-925, December.
    11. Cecilia Testa, 2005. "Reforms, lobbies and welfare: A common agency approach," Public Choice, Springer, vol. 125(3), pages 305-337, December.
    12. Portes, Richard, et al, 1987. "Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980," Econometrica, Econometric Society, vol. 55(1), pages 19-41, January.
    13. Bertocchi, Graziella & Spagat, Michael, 1997. "Structural uncertainty and subsidy removal for economies in transition," European Economic Review, Elsevier, vol. 41(9), pages 1709-1733, December.
    14. Robert Mulligan & Erwin Nijsse, 2001. "Shortage and currency substitution in transition economies: Bulgaria, Hungary, Poland, and Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(3), pages 275-295, August.
    15. Gebhard Kirchgässner, 2016. "Voting and Popularity," CREMA Working Paper Series 2016-08, Center for Research in Economics, Management and the Arts (CREMA).
    16. Berkowitz, Daniel, 1996. "On the persistence of rationing following liberalization: A theory for economies in transition," European Economic Review, Elsevier, vol. 40(6), pages 1259-1279, June.
    17. Verbeek, M.J.C.M. & Nijman, T.E., 1994. "Minimum MSE estimation of a regression model with fixed effects from a series of cross-sections," Other publications TiSEM 702ff7bc-dfba-4834-8d71-f, Tilburg University, School of Economics and Management.
    18. Amihai Glazer, 2012. "Handicaps on Timing to Improve Reputation," Working Papers 111210, University of California-Irvine, Department of Economics.
    19. Goldberg, Linda S. & Karimov, Il'dar, 1997. "Black markets for currency, hoarding activity and policy reforms," Journal of International Economics, Elsevier, vol. 42(3-4), pages 349-369, May.
    20. Mokhtari, M., 1996. "Savings under quantity constraints: what can we learn from former Soviet families?," Journal of Policy Modeling, Elsevier, vol. 18(5), pages 561-582, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:111:y:2002:i:1-2:p:73-104. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.