Paul M. Vaaler from the University of Minnesota shared the extensive database on which his research is built with the participants of the IBSS session: Together with colleagues, he has analyzed financing decisions for more than 7,000 projects. The framework presented refers to figures from 80 countries in which a total of 278 national elections were held between 1998 and 2020 in parallel to the project financing analyzed.

Together we could discuss Vaaler's key findings: Delayed funding is more likely when elections are close and their outcomes potentially beneficial to sponsors. His study challenges the assumption that elections in general slow down investment and identifies specific election scenarios and project factors that cause investors to defer their commitment to a project.

Paul M. Vaaler is a professor and the John and Bruce Mooty Chair in Law & Business, a joint faculty appointment to the University of Minnesota’s Law School and Carlson School of Management. He writes, teaches, and advises on how multinational enterprises and other international investors manage risks associated with political and economic reforms in developing countries. Professor Vaaler took his BA in History at Carleton College, his MA in Philosophy, Politics & Economics at Oxford University where he studied as a Rhodes Scholar, his JD from Harvard Law School, and his PhD in Strategic Management at the University of Minnesota. You can learn more about Professor Vaaler’s research, teaching, and service interests at his Carlson School and Law School websites.