This comprehensive monograph by a renowned expert covers all aspects of political finance in modern democracies. The reader is given all information that is presently available on - the factual patterns of party spending - the causes of an allegedly high level and an increase of political spending - the various sources of political funds and strategies of fundraising - the impacts of funding on party organisation, party types and party systems. Has money in politics become more important over time? Has new campaign technology caused a 'cost explosion'? Who gives and spends for political purposes and why? Is illegal funding of parties a real problem? What are the impacts of public funding for sustainable democracy? The result is a major contribution to scholarly research on party democracy and on democracy building. As political finance is a restless issue, detailed findings on the impact of legal regulations are important for policy-makers. Karl-Heinz Nassmacher, professor emeritus of political science, has chaired the IPSA Research Committee on Political Finance and Political Corruption (1994-2000). He co-authored three books and some 60 articles on matters related to political finance.