Recursive Linking

I’ve come across some posts which do recursive linking, meaning they link their keyword to the same post where that keyword is located at

e.g.

“Famous Qoutes” has a keyword qoute which points to “Famous Qoutes”

Does this really work, does it have an effect on your SERP ? Or does google (or whatever search engine is out there) view it as a broken link ?

BTW, this reminds me of that programmer joke on the dictionary entry of the word “recursive”:

recursive (adj): see recursive