Public Policy Investment: Risk and Return in British Politics
In: British journal of political science, Band 43, Heft 4, S. 741-773
Abstract
This article sets out and tests a theory of public policy investment - how democratic governments seek to enhance their chances of re-election by managing a portfolio of policy priorities for the public, analogous to the relationship between investment manager and client. Governments choose policies that yield returns the public values; and rebalance their policy priorities later to adjust risk and stabilize return. Do the public reward returns to policy capital or punish risky policy investments? The article investigates whether returns to policy investment guide political management and statecraft. Time-series analyses of risk and return in Britain 1971-2000 reveal that risk and return on government policy portfolios predict election outcomes, and that returns, risk profiles and the uncertainty in public signals influence the prioritization of policies. Adapted from the source document.
Themen
Sprachen
Englisch
Verlag
Cambridge University Press, UK
ISSN: 1469-2112
DOI
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