Political Elections and the Resolution of Uncertainty: The International Evidence

By F. T. Magiera. 2001

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Political Uncertainty and Risk Premia (2013, unknown): “Pantzalis, Stangeland, and Turtle (2000) and Li and Born (2006) find abnormally high stock market returns in the weeks preceding major elections, especially for elections characterized by high degrees of uncertainty.”
The price of democracy: sovereign risk ratings, bond spreads and political business cycles in developing countries (2004, background): “Pantzalis et al. (2000) found that share market prices in a sample of 33 industrialized and developing countries reacted negatively to uncertainty in the outcome of elections held in those countries between 1974 and 1995.”
Do Markets Care About Central Bank Governor Changes? Evidence from Emerging Markets (2010, background): “The latter consists of the currency (risk) premium, the pure default (risk) premium and the jurisdiction premium (see for instance Peter (2005). 13Note that MSCI returns are closely correlated with the returns of the respective country indices (Pantzalis et al.”
Aggregate and Idiosyncratic Political Risk: Measurement and Effects (2016, unknown): “This literature has highlighted that uncertainty associated with election outcomes is reflected in asset prices (Li and Born (2006); Pantzalis et al. (2000); Boutchkova et al. (2012); Gemmill (1992); Goodell and Vähämaa (2013); Snowberg et al. (2007)).”