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Globalization and Domestic PoliticsParties, Elections, and Public Opinion$
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Jack Vowles and Georgios Xezonakis

Print publication date: 2016

Print ISBN-13: 9780198757986

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198757986.001.0001

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The Buck Stops over There? Benchmarking Elections in the Open Economy

The Buck Stops over There? Benchmarking Elections in the Open Economy

(p.89) 5 The Buck Stops over There? Benchmarking Elections in the Open Economy
Globalization and Domestic Politics

Mark Andreas Kayser

Michael Peress

Oxford University Press

Voters punish governments less for weak economies when those economies are highly globalized. This regularity, first identified by Timothy Hellwig in 2001, constitutes one of the most important contributions to our understanding of globalization and politics. How this effect comes about, however, remains less clear. Previous authors have argued that voters recognize when a government has less economic room to manoeuvre and accordingly hold it less accountable. This chapter suggests a different answer. following on from our previous work showing that cross‐national comparisons of economic performance drive economic voting more than absolute levels themselves. Increasing integration into the international economy implies smaller national deviations from international business cycles and, hence, smaller effects on the vote. Globalization reduces the size of the economic vote, we argue, because it reduces the size of deviations from international benchmarks. When large deviations do occur, they influence elections no less than in less globalized environments.

Keywords:   economic vote, elections, globalization, room to manoeuvre, accountability, voting, benchmarking

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