Similar Search Results

Setting Standards: Information Accumulation in Development

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1997

This paper proposes a model in which economic relations and institutions in advanced and less-developed economies differ as these societies have access to different amounts of information. This lack of information makes it hard to give the right incentives to managers and entrepreneurs. We argue...

Persistent link: https://www.econbiz.de/10005667121

The Rise and Fall of Elites: A Theory of Economic Development and Social Polarization in Rent-seeking Societies

Verdier, Thierry - C.E.P.R. Discussion Papers - 1996

the process of development. A simple general equilibrium model of rent-seeking political elites with two productive …

Persistent link: https://www.econbiz.de/10005124016

Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach

Acemoglu, Daron; Verdier, Thierry - C.E.P.R. Discussion Papers - 1996

We consider an economy where property rights are necessary to ensure sufficient rewards to ex-ante investments. Because enforcement of property rights influences the ex-post distribution of rents, there is room for corruption. We characterize the optimal organization of society and the optimal...

Persistent link: https://www.econbiz.de/10005124188

Was Prometheus Unbound by Chance? Risk, Diversification and Growth

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996

This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and … growth. At early stages of development, the presence of indivisible projects limits the degree of risk … inability to diversify idiosyncratic risks introduces high uncertainty in the growth process. The typical development pattern …

Persistent link: https://www.econbiz.de/10005124312

Agency Costs in the Process of Development

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996

early stages of development, the range of projects and the amount of information are limited and agency costs are high … investigation of the development of financial institutions. We contrast the information aggregation role of stock markets and … information production role of banks. Because the amount of available information increases with development, our model predicts …

Persistent link: https://www.econbiz.de/10005136536

Aid and Trade

Suwa Eisenmann, Akiko; Verdier, Thierry - C.E.P.R. Discussion Papers - 2007

The paper surveys the interactions between aid and trade, distinguishing between policies and outcomes as well as between various instruments. It first discusses the theoretical literature, focusing on the causal impact of aid on the recipient’s welfare via the trade channel, before turning to...

Persistent link: https://www.econbiz.de/10005504233

Productivity Differences

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2000

Many technologies used by the LDCs are developed in the OECD economies and are designed to make optimal use of the skills of these richer countries' workforces. Differences in the supply of skills create a mismatch between the requirements of these technologies and the skills of LDC workers, and...

Persistent link: https://www.econbiz.de/10005114308