|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CEE | CEP | FMG | SERC | STICERD||Cookies?|
Blanes i Vidal,
Paper No' CEPDP0993: | Full paper
Save Reference as: BibTeX File | EndNote Import File
Keywords: Lobbying; revolving door, US Congress, political connections, political elites
JEL Classification: H11; J24; J45
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: CEP Discussion Papers
Share: Google Bookmarks | Facebook | Twitter
Abstract:Washington's 'revolving door' - the movement from government service into the lobbying industry- is regarded as a major concern for policy-making. We study how ex-government staffers benefit from the personal connections acquired during their public service. Lobbyists with experience in the office of a US Senator suffer a 24% drop in generated revenue when that Senator leaves office. The effect is immediate, discontinuous around the exit period and long-lasting. Consistent with the notion that lobbyists sell access to powerful politicians, the drop in revenue is increasing in the seniority of and committee assignments power held by the exiting politician.
Copyright © CEP & LSE 2003 - 2015 | LSE, Houghton Street, London WC2A 2AE | Tel: +44(0)20 7955 7673 | Email: email@example.com | Site updated 27 March 2015