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We model growth in dictatorships facing each period an endogenous probability of ‘political catastrophe’ that would extinguish the regime's wealth extraction ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the...
Persistent link: https://www.econbiz.de/10005136680
We model growth in dictatorships facing each period an endogenous probaibility of "political catastrophe" that would extinguish the regime's wealth ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the dictator...
Persistent link: https://www.econbiz.de/10005489942
Persistent link: https://www.econbiz.de/10001784904
Persistent link: https://www.econbiz.de/10003230714
We model growth in dictatorships facing each period an endogenous probability of "political catastrophe" that would extinguish the regime's wealth extraction ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the...
Persistent link: https://www.econbiz.de/10014135636
Persistent link: https://www.econbiz.de/10013423263