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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Impact of macroeconomic conditions on government popularity: an ECOWAS investigation
Authors:Chang, Chun-Ping
Ying, Yung-Hsiang
Hsieh, Meng-ChiISNI
Periodical:South African Journal of Economics
Geographic term:West Africa
Subjects:economic conditions
economic policy
public opinion
government parties
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2009.01207.x/pdf
Abstract:The authors analyse the vote function using the vote share of government parties as the proxy variable for government popularity. Utilizing P. Pedroni's (1999) panel cointegrated test and the fully modified OLS (FMOLS) technique, they empirically examine the long-run co-movement relationship in a bivariate model between government popularity and macroeconomic outcomes as well as a lag term in accordance with updated data for 11 countries of the Economic Community of West African States (ECOWAS) during the 1975-2005 period. The results indicate the existence of panel cointegration relationships in the empirical model. The panel FMOLS shows that several macroeconomic shocks are responsible for positive contributions to government popularity, especially in regard to economic growth and government expenditures. By contrast, currency depreciation, higher interest payments, and a greater taxation burden on households all contribute to lower government support in the sample countries. Based on such evidence, important policy implications emerge for ECOWAS. Bibliogr., notes, ref., sum. [Journal abstract]