Showing 1 - 4 of 4
We model growth in dictatorships facing each period an endogenous probability of ``political catastrophe'' that would … extinguish the regime's wealth extraction ability. Domestic capital exhibits a bifurcation point determining economic growth or …
Persistent link: https://www.econbiz.de/10005677417
Replication of two recent studies of growth determinants shows that results are sensitive to the choice of data from … which growth rates are calculated, especially with respect to whether economic convergence has occurred. Previous warnings … (growth rates) have been largely ignored at the cost of possibly contaminating the conclusions. …
Persistent link: https://www.econbiz.de/10005677664
Centrally planned economies tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how planned economies can end up in a low-effort,...
Persistent link: https://www.econbiz.de/10005489931
individuals pursuing their own interests while they remain in power. We model growth in a 'proprietary economy" facing each period … growth or shrink,9,ge. With low initial domestic capital the proprietor plunders the country's resources and the economy …
Persistent link: https://www.econbiz.de/10005784769