In the aftermath of the financial crisis the world saw an increase in the number of street protests. Many inspired by perceived connections between the political elite and business interests; Occupy Wall Street and Los Indignados in the west to the Arab Spring and the protests against Victor Yanukovich in Ukraine. A new working paper from the National Bureau of Economic Research presents evidence on their power.
Daron Acemoglu, Tarek Hassan and Ahmed Tahoun examines the correlation between street protests in Egypt and the stock market returns for firms connected to former president Hosni Mubarak’s National Democratic Party (NDP), the Muslim Brotherhood and the Egyptian military. Read more
Migration from the European Union is a pretty controversial issue in Britain. Particularly in politics: the strength of the anti-EU UK Independence Party and the anxiety it causes for the two major parties is thought to be linked to public antipathy towards the high-levels of migration that followed the accession of eight eastern european countries to the EU in 2004 (EUA8).
Others have pointed out that perhaps something else is going on. The British public tend to overestimate the proportion of the country who are migrants and have been in favour of lower levels of migration for the past 50 years, even when the country was experiencing net emigration. So perhaps migration is just a vehicle for other concerns.
So I thought I would look at the relationship between the number of migrants in an area and public opinion about migration. Read more
The US went to the polls yesterday for the congressional midterms and the Republicans swept to victory and took control of the senate. Turnout tends to be much lower when there’s no presidential election to accompany the congressional vote, on average about 13 percentage points. Exit polls revealed that minority and younger voters were much more likely to stay home this year than they were in 2012.
Ukip leader Nigel Farage (left) and Conservative MP for Clacton-on-Sea Douglas Carswell who has announced he is defecting to the eurosceptic party
A “seaside strategy” is being deployed by the UK Independence party in the run-up to next year’s general election which will see the eurosceptic party target seven seats in faded coastal areas of the UK.
Of the leaked list of 12“most wanted” seats where Ukip will concentrate its campaigning, half include seaside resorts, including South Thanet – where party leader Nigel Farage is standing – plus Skegness and Great Yarmouth. The addition of Clacton-on-Sea, whose Tory MP Douglas Carswell announced his surprise defection to Ukip last week, makes seven.
All seven constituencies produced impressive victories for the Conservative party in the 2010 general election – on average, the Tories achieved a 23 per cent majority and a 49 per cent share of the vote. Where Ukip fielded a candidate, its average share was just 6.3 per cent.
However, the deprived demographics of Britain’s coastal towns mean that Ukip is finding increasing support beside the seaside. Fast forward four years, and the eurosceptic party took the greatest share of the vote in May’s European elections in all seven of the seaside towns where it has pledged to fight the Tories on the beaches. Read more