How Voters Respond to Currency Crises
Evidence From Turkey
Bibliographic Data
| ID | 6244652 |
|---|---|
| Authors | David A Steinberg (0000-0002-6461-789X, Johns Hopkins University, corresponding author) |
| Year | 2022 |
| Volume | 55 |
| Issue | 8 |
| Pages | 1332-1365 |
| Publication date | 2022-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Comparative Political Studies (JOURNAL) |
| Journal identifiers | ISSN: 0010-4140 • E-ISSN: 1552-3829 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/00104140211060268 |
| OpenAlex | W4200152920 |
| Language | EN |
| Citations received | 8 |
| References cited | 80 |
A burgeoning literature shows that international trade and migration shocks influence individuals’ political attitudes, but relatively little is known about how international financial shocks impact public opinion. This study examines how one prevalent type of international financial shock—currency crises—shapes mass political attitudes. I argue that currency crises reduce average citizens’ support for incumbent governments. I also expect voters’ concerns about their own pocketbooks to influence their response to currency crises. Original survey data from Turkey support these arguments. Exploiting exogenous variation in the currency’s value during the survey window, I show that currency depreciations strongly reduce support for the government. This effect is stronger among individuals that are more negatively affected by depreciation, and it is moderated by individuals’ perceptions of their personal economic situation. This evidence suggests that international financial shocks can strongly influence the opinions of average voters, and it provides further support for pocketbook theories
Currency · Depreciation (economics · Devaluation · Economic growth · Economics · Government (linguistics · International economics · Monetary economics · Political science · Politics · Shock (circulatory · Survey data collection · Value (mathematics · Electoral Systems and Political Participation · International Development and Aid · Populism, Right-Wing Movements
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Whisper sweet nothings to me Erdoğan
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Covariate balancing propensity score for a continuous treatment
Importing Political Polarization? The Electoral Consequences of Rising Trade Exposure
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The China Shock
Targeted Government Spending and Political Preferences
Economic self-interest, information, and trade policy preferences
Exchange rate politics
Recovery from a currency crisis
Economic evaluations vs. ideology
Rising competitive authoritarianism in Turkey
Large Devaluations and the Real Exchange Rate
Entropy Balancing for Causal Effects
Is My Crown Better than Your Euro
The path from trade to right-wing populism in Europe
Aggregate Shocks and Urban Labor Market Responses
The Trade Origins of Economic Nationalism
Voter and Legislator Responses to Localized Trade Shocks from China in Brazil
Costly Jobs
The Black Market Blues
Relative Economic Performance and the Incumbent Vote
Context Counts
When the Pound in People’s Pocket Matters
The Political Conditioning of Economic Perceptions
Motivated Reasoning, Public Opinion, and Presidential Approval
Unexpected Event during Survey Design
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To Devalue or to Defend? The Political Economy of Exchange Rate Policy
Moral Hazard and Financial Crises
International Trade and Public Protest
Populism in Place
Iceland on the Rocks
Invested interests
Support for Free Trade
Why Don't Trade Preferences Reflect Economic Self-Interest
The limits and rewards of political opportunism
Interest Group Pressures and Currency Crises
Incorporating Marginal Citizens and Voters
Economics and Elections Revisited
Partisanship and Autocratization
The Economic Origins of Authoritarian Values
How Voters Respond to Currency Crises
When Are Monetary Policy Preferences Egocentric? Evidence from American Surveys and an Experiment
Economic Discontent and Political Behavior
The Political Consequences of External Economic Shocks
Varieties of Populism in a Changing Global Context
Economic performance and incumbents' support in Latin America
Do conditional cash transfer programs shift votes? Evidence from the Honduran PRAF
Unpacking the Black Box of Causality
Does Exposure to the Refugee Crisis Make Natives More Hostile
Global Competition and Brexit
Digging into the Pocketbook
The Political Impact of Economic Crisis in Latin America in the 1980s
How Elite Partisan Polarization Affects Public Opinion Formation
| Unique citing works | 8 |
|---|---|
| Citations per year | 2 |
| Citation span | 2022 - 2026 (5) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 7 |