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Fund-Raising in Presidential Nomination Campaigns: The Primary Lessons of 1988
Beginning of article
This article presents an exploratory analysis of the flow of funds raised in American presidential nomination campaigns. Using detailed financial data for all the major party candidates in the 1988 presidential contest, we explicate and test two rival models of fund-raising: A "campaign-driven" model, which ties the fund-raising success to performance in the campaign itself, often in the form of momentum; and an "organization-driven" model, which ties it to the quality of candidates' political bases and fundraising efforts. We find much more support for the latter model. Most candidates' funds are raised before the start of the primary season; the patterns of fund-raising remain largely …
