The Impact of Public Financing Programs in Municipal Elections: Evidence from New York and Los Angeles.

Public financing has been implemented in many jurisdictions as part of an effort to increase competitiveness, make the campaign finance system more democratic, and reduce money raised from private sources. But does it accomplish these goals? Even though some research has been done on public financing in state elections, we know little about its impact in municipal elections. This paper analyzes the impact of partial public financing programs in New York and Los Angeles City Council races. I find that its effect on competitiveness, fundraising, and the cost of elections is minor and does not accomplish the goals desired by reformers. Even though it may have some positive impact, partial public financing programs do not fundamentally alter the dynamics of city council elections. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]