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Why do inefficient - non-growth enhancing - institutions emerge and persist? This paper develops a simple framework to provide some answers to this question. Political institutions determine the allocation of political power, and economic institutions determine the framework for policy-making...
Persistent link: https://www.econbiz.de/10012734829
Why do inefficient %uF818 non-growth enhancing %uF818 institutions emerge and persist? This paper develops a simple framework to provide some answers to this question. Political institutions determine the allocation of political power, and economic institutions determine the framework for...
Persistent link: https://www.econbiz.de/10013247019
Why do inefficient -- non-growth enhancing -- institutions emerge and persist? This paper develops a simple framework to provide some answers to this question. Political institutions determine the allocation of political power, and economic institutions determine the framework for policy-making...
Persistent link: https://www.econbiz.de/10012466731
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so, they are effectively accepting a certain amount of politician (presidential) rents in return for redistribution. We … are high (which makes redistribution more valuable to the majority). We show that the main intuition, that checks and …
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