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Party Competition and Industrial Structure in the 2012 Elections

Author

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  • Thomas Ferguson
  • Paul Jorgensen
  • Jie Chen

Abstract

This paper analyzes patterns of industrial structure and party competition in the 2012 presidential election. The analysis rests on a new and more comprehensive database that catches more of the myriad ways in which businesses and major investors make political contributions than previous studies do. By drawing on this unified database, the paper is able to show that both major parties depend on very large donors to a greater extent than past studies have estimated. The paper outlines the firm and sectoral bases of support for the major party nominees, as well as for Republican candidates who competed for their party's presidential nomination. The paper shows that President Barack Obama's support by big business was broader than hitherto recognized. A central conclusion is that the sectors most involved in the recent controversies over surveillance were among the president's strongest supporters. The paper also analyzes patterns of business support for the Tea Party in Congress, showing that certain parts of the business community are more supportive of Tea Party candidates than others. The role of climate change, financial regulation, and other issues in the election is discussed at length.

Suggested Citation

  • Thomas Ferguson & Paul Jorgensen & Jie Chen, 2013. "Party Competition and Industrial Structure in the 2012 Elections," International Journal of Political Economy, Taylor & Francis Journals, vol. 42(2), pages 3-41.
    • Handle: RePEc:mes:ijpoec:v:42:y:2013:i:2:p:3-41
    DOI: 10.2753/IJP0891-1916420201
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    Cited by:

    1. repec:hal:spmain:info:hdl:2441/2ahul47tb09rvqfl9eelv7o5ca is not listed on IDEAS
    2. Ryan Rafaty & Geoffroy Dolphin & Felix Pretis, 2020. "Carbon pricing and the elasticity of CO2 emissions," Working Papers EPRG2035, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    3. repec:hal:spmain:info:hdl:2441/7rcgbs4v788terphdvb6a5e8t8 is not listed on IDEAS
    4. Julia Cage & Yasmine Bekkouche, 2018. "The Price of a Vote: Evidence from France, 1993-2014," SciencePo Working papers Main hal-03393149, HAL.
    5. Yasmine Bekkouche & Julia Cage, 2018. "The Price of a Vote: Evidence from France, 1993-2014," Working Papers Series 68, Institute for New Economic Thinking.
    6. Cagé, Julia & Bekkouche, Yasmine, 2018. "The Heterogeneous Price of a Vote: Evidence from France, 1993-2014," CEPR Discussion Papers 12614, C.E.P.R. Discussion Papers.
    7. Maurizio Franzini & Mario Pianta, 2015. "Four engines of inequality," LEM Papers Series 2015/20, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. repec:hal:wpspec:info:hdl:2441/2ahul47tb09rvqfl9eelv7o5ca is not listed on IDEAS
    9. Yasmine Bekkouche & Julia Cage, 2018. "The Price of a Vote: Evidence from France, 1993-2014," Working Papers Series 68, Institute for New Economic Thinking.
    10. Ferguson, Thomas & Jorgensen, Paul & Chen, Jie, 2022. "How money drives US congressional elections: Linear models of money and outcomes," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 527-545.

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