Political Economy

Through its research, teaching, and course development, the Stanford GSB political economy group has consistently led the way in business schools’ awakening to the enormous impact of nonmarket forces on business practice and performance.

Political economy courses blend cutting-edge research with contemporary business cases. Spanning theory and practice as such provides future managers with systematic frameworks for understanding behavior outside the traditional sphere of markets. Important features of the nonmarket environment include strategic aspects of NGOs and activists; business-government relations in lawmaking, rulemaking, and regulation (locally and globally); the legal environment of business; and the interplay of strategy and ethics.

The political economy faculty is composed of world-class economists and political scientists whose research epitomizes the unique benefits of rigorous interdisciplinary social science. The faculty not only strives for excellence in its own research and teaching but also takes pride in its incomparable PhD Program, which regularly trains the world’s best new political economists.

Recent Journal Articles in Political Economy

Gregory J. Martin, Zachary Peskowitz
American Political Science Review. May
2018, Vol. 112, Issue 2, Pages 231-248

Advertising expenditures in congressional campaigns are made not directly by campaigns themselves but indirectly though intermediary firms. Using a new dataset of revenues and costs of these firms, we study...

Gregory J. Martin
The Journal of Politics. April
2018, Vol. 80, Issue 2, Pages 479-493

In advanced democracies, most government spending is allocated according to criteria approved by a legislature but implemented by the bureaucracy. I ask whether this fact imposes a binding constraint on...

Dana Foarta
American Economic Review (forthcoming). April

This paper studies the welfare effects of a “partial banking union” in which cross-country transfers for bailouts are set at the supranational level, but policymakers in member countries decide the...

Journal Article|
Keith Krehbiel, Christian Fong
American Political Science Review. February
2018, Vol. 112, Issue 1, Pages 1-14

Many institutions—including American federal bureaucracies and legislatures world-wide—are characterized by one set of actors who possess the right to determine which policies will be enacted and an opposing set of...

Joshua Kalla, David Broockman
American Political Science Review. February
2018, Vol. 112, Issue 1, Pages 148-166

Significant theories of democratic accountability hinge on how political campaigns affect Americans’ candidate choices. We argue that the best estimate of the effects of campaign contact and advertising on Americans’...