Abstract: The subject of this research is the impact of the legislative norms upon political behavior. The goal of this article consists in the attempt to answer the question of how the candidates change their behavior depending on the changes in the legal norms that regulate the rules of conduct in the electoral campaigns. This problematic is being analyzed on the example of norms that establish the rules of financing and financial reporting for campaign finance. The empirical foundation of this research includes current electoral legislation of the Russian Federation and law enforcement practice in the area of campaign finance. The methodological base for this research consists in the modern institutional theory, which allows establishing connection between the current legislation and law enforcement practice. The examination of electoral legislation allows concluding on the presence of complex dependency between the limits of campaign expenditures established by current legislation and the portion of “shadow” campaign finance. Based on the conducted research the author makes recommendations that would allow reducing the portion of “shadow” finance in the electoral campaigns, as well as optimize the rules and procedures for campaign finance.