Showing 1 - 5 of 5
In recent theories of comparative development the role of institutional differences has been crucial. Yet what explains … comparative institutional evolution? We investigate this issue by studying the coffee exporting economies of Latin America. While … homogeneous in many ways, they experienced radically different paths of economic (and political) development which is conventional …
Persistent link: https://www.econbiz.de/10005123696
Underdevelopment is thought to be about lack of investment, and many political economy theories can account for this. Yet, there has been much investment in developing countries. The problem has been that investment growth has not led to output growth. We therefore need to explain not simply...
Persistent link: https://www.econbiz.de/10005123875
We construct a simple model where political elites may block technological and institutional development, because of a … replaced. Fearing replacement, political elites are unwilling to initiate change, and may even block economic development. We … show that elites are unlikely to block development when there is a high degree of political competition, or when they are …
Persistent link: https://www.econbiz.de/10005124137
Why do soft budget constraints exist and persist? In this paper we argue that the prevalence of soft budget constraints can be best explained by the political desirability of softness. We develop a political economy model where politicians cannot commit to policies that are not ex post optimal....
Persistent link: https://www.econbiz.de/10005114300
achieved this rapid development by following orthodox economic policies. How Botswana sustained these policies is a puzzle …
Persistent link: https://www.econbiz.de/10005661844