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The Electoral Effects of Incumbent Wealth

Jeffrey Milyo and Timothy Groseclose
The Journal of Law & Economics
Vol. 42, No. 2 (October 1999), pp. 699-722
DOI: 10.1086/467439
Stable URL: http://www.jstor.org/stable/10.1086/467439
Page Count: 24
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The Electoral Effects of Incumbent Wealth
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Abstract

Abstract The absence of limits on own‐source campaign contributions is widely thought to give wealthy candidates an advantage in congressional elections. We employ a unique data set on the wealth of House incumbents running for reelection in 1992. We find that wealthy incumbents do not raise or spend more campaign funds and do not win greater vote shares in their reelection bids. Further, incumbent wealth does not deter high‐quality challengers.

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