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rotating agenda setting, a taxpayer-protection rule and repeated voting. The latter rule makes vote buying prohibitively costly. …
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In this paper we try to explain why the misallocation of resources across different productive sectors tends to persist over time. We document that there is a link between the distribution of the public expenditure across sectors and the sectoral composition of an economy. We propose a general...
Persistent link: https://www.econbiz.de/10013132929
In this paper we study why the misallocation of resources across different productive sectors tends to persist over time. To this end we propose a general equilibrium model that delivers two structural relations. On the one hand, the public expenditure distribution influences the future sectoral...
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prevent it. Moreover, this paper shows that the bureaucratic elite obtains excessive bureaucratic power, and that promiscuous … elites actually lead to lower economic growth. -- elites ; bureaucracy ; abuse of power ; revolving door ; economic growth …
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