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reduce the growth rate of the public capital stock. We also show that, in the interior equilibrium, the private asset can …
Persistent link: https://www.econbiz.de/10011450350
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10009503827
We study the role of tax share and transparency of governance on growth and stagnation. A local government maximizes … above them, the economy will achieve perpetual growth. …
Persistent link: https://www.econbiz.de/10011450277