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Institutions for High-Quality Growth: What They are and How to Acquire Them

Rodrik, Dani - National Bureau of Economic Research (NBER) - 2000

This paper opens with a discussion of the types of institutions that allow markets to perform adequately. While we can … identify in broad terms what these are, there is no unique mapping between markets and the non-market institutions that … institutions. A range of evidence indicates that participatory democracies enable higher-quality growth. …

Persistent link: https://www.econbiz.de/10005710420

In Search of the Holy Grail: Policy Convergence, Experimentation, and Economic Performance

Mukand, Sharun; Rodrik, Dani - National Bureau of Economic Research (NBER) - 2002

We consider a model of policy choice in which appropriate policies depend on a country's own circumstances, but the presence of a successful leader generates an informational externality and results in too little 'policy experimentation.' Corrupt governments are reined in while honest...

Persistent link: https://www.econbiz.de/10005710726

When Economic Reform Goes Wrong: Cashews in Mozambique

McMillan, Margaret Mcmillan; Rodrik, Dani; Welch, Karen Horn - National Bureau of Economic Research (NBER) - 2002

Mozambique liberalized its cashew sector in the early 1990s in response to pressure from the World Bank. Opponents of the reform have argued that the policy did little to benefit poor cashew farmers while bankrupting factories in urban areas. Using a welfare-theoretic framework, we analyze the...

Persistent link: https://www.econbiz.de/10005061546

Socially Optimal Coordination: Characterization and Policy Implications

Angeletos, George-Marios; Pavan, Alessandro - National Bureau of Economic Research (NBER) - 2006

In recent years there has been a growing interest in macro models with heterogeneity in information and complementarity in actions. These models deliver promising positive properties, such as heightened inertia and volatility. But they also raise important normative questions, such as whether...

Persistent link: https://www.econbiz.de/10005049877

Policy with Dispersed Information

Angeletos, George-Marios; Pavan, Alessandro - National Bureau of Economic Research (NBER) - 2007

This paper studies policy in a class of economies in which information about commonly-relevant fundamentals -- such as aggregate productivity and demand conditions -- is dispersed and can not be centralized by the government. In these economies, the decentralized use of information can fail to...

Persistent link: https://www.econbiz.de/10005580205

Efficiency and Welfare with Complementarities and Asymmetric Information

Angeletos, George-Marios; Pavan, Alessandro - National Bureau of Economic Research (NBER) - 2005

This paper examines equilibrium and welfare in a tractable class of economies with externalities, strategic complementarity or substitutability, and incomplete information. In equilibrium, complementarity amplifies aggregate volatility by increasing the sensitivity of actions to public...

Persistent link: https://www.econbiz.de/10005580464

Coordination and Policy Traps

Angeletos, George-Marios; Hellwig, Christian; Pavan, … - National Bureau of Economic Research (NBER) - 2003

This paper examines the ability of a policy maker to control equilibrium outcomes in an environment where market participants play a coordination game with information heterogeneity. We consider defense policies against speculative currency attacks in a model where speculators observe the...

Persistent link: https://www.econbiz.de/10005580557

Do democratic transitions produce bad economic outcomes?

Rodrik, Dani; Wacziarg, Romain - In: The American economic review 95 (2005) 2, pp. 50-55

Persistent link: https://www.econbiz.de/10003212813

How does globalization affect the synchronization of business cycles?

Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - In: The American economic review 93 (2003) 2, pp. 57-62

Persistent link: https://www.econbiz.de/10001776771

International business cycles : world, region, and country-specific factors

Kose, M. Ayhan; Otrok, Christopher M.; Whiteman, Charles H. - In: The American economic review 93 (2003) 4, pp. 1216-1239

Persistent link: https://www.econbiz.de/10001799735