Campaign Finance

Research output: Chapter in Book/Entry/PoemChapter


While most voters and politicians are convinced that campaign finance shapes policy and elections, studies typically have found small or no effects. However, better data and a greater focus on causal identification have transformed the literature in recent years. In this chapter, I take stock of our current understanding of campaign finance in democratic countries: Who are the campaign donors and what motivates them? How does campaign finance affect policy? And how does campaign spending affect elections? I argue that the recent findings chip away at the old conventional wisdom that campaign spending has little impact, and instead supports the view that it has important consequences for policy and election outcomes. I also point to gaps in our understanding and highlight areas for future research.

Original languageEnglish (US)
Title of host publicationStudies in Public Choice
Number of pages23
StatePublished - 2023

Publication series

NameStudies in Public Choice
ISSN (Print)0924-4700
ISSN (Electronic)2731-5258

ASJC Scopus subject areas

  • Sociology and Political Science
  • Economics, Econometrics and Finance (miscellaneous)
  • Political Science and International Relations


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