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, financial reforms that ended decades of financial repression, and a massive privatization program. We investigate the role … played by ideas, interests and institutions. More specifically, we examine the role played by the 'reform team' investigate …
Persistent link: https://www.econbiz.de/10012472294
political mechanisms: we study legislative bargaining, lobbying, and electoral competition, as well as the possible interactions …
Persistent link: https://www.econbiz.de/10012471701
smoothing. Second deficits can be eliminated through a fiscal reform, but such a reform may only take place after a" delay …
Persistent link: https://www.econbiz.de/10012472479
This paper develops a political-economic model of fiscal policy - one in which government resources are a common property' out of which interest groups can finance expenditures on their preferred items. This setup has striking macroeconomic implications. Transfers are higher than a benevolent...
Persistent link: https://www.econbiz.de/10012472527
capture, and then protect, these rents leads to the creation of new distortions, even as the reform process tries to move … governments throughout the economy sought to capture these rents by developing high margin industries. Continued reform, and …, leading local governments to impose a variety of interregional barriers to trade. Thus, the reform process led to the …
Persistent link: https://www.econbiz.de/10012470915
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10012457662
We develop a conceptual framework to highlight the role of ideas as a catalyst for policy and institutional change. We make an explicit distinction between ideas and vested interests and show how they feed into each other. In doing so the paper integrates the Keynes-Hayek perspective on the...
Persistent link: https://www.econbiz.de/10012453247
for the costs of political bargaining and lobbying that arise from implementing and administering government regulation …
Persistent link: https://www.econbiz.de/10012456769
We present a model of the creation of social networks, such as political parties, trade unions, religious coalitions, or political action committees, through discussion and mutual persuasion among their members. The key idea is that people are influenced by those inside their network, but not by...
Persistent link: https://www.econbiz.de/10012468445
feudal elite; withdrew its hand with a propitious mass privatization that rallied the private sector; marginalized an …
Persistent link: https://www.econbiz.de/10012465482