Following the Money: The Influence of Campaign Finance Reform in the 2011 Chicago Mayoral Election

:In this research we study the effect of recently enacted campaign contribution limits in Illinois via an examination of the 2011 Chicago mayoral election. Because contribution limits for state and local campaigns were implemented in the middle of the race for mayor we are uniquely positioned to test the efficacy of the new law. In theory we expect contribution limits to cause candidates to rely on more contributors making smaller donations. Our results indicate that the reform measure did not prompt candidates to broaden their fundraising base, and only when Rahm Emanuel’s campaign is considered alongside his opponents’ did the fundraising law reduce average contributions. In a concluding section we address the issue of whether the contribution limits established under the law are too high to produce meaningful reform.