Institutional Trap
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Institutional Trap
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Author : Quy-Toan Do
language : en
Publisher: World Bank Publications
Release Date : 2004
Institutional Trap written by Quy-Toan Do and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Agent (Philosophy) categories.
Abstract: The author studies the persistence of inequality and inefficient governance in a physical capital accumulation model with perfect information, missing credit markets, and endogenous barriers to entry. When access to investment opportunities is regulated, rent-seeking entrepreneurs form coalitions of potentially varying size to bribe a regulator to restrict entry. Small coalitions run short of resources, while large coalitions suffer more severe free-rider problems. The distribution of wealth thus determines the equilibrium coalition structure of the economy and consequently the level of regulatory capture. A dynamic analysis supports the persistence of inefficiencies in the long run. Initial conditions determine whether the economy converges to a steady state characterized by efficient governance and low levels of inequality, or a path toward an institutional trap where regulatory capture and wealth inequality reinforce each other. This paper"a product of the Poverty Team, Development Research Group"is part of a larger effort in the group to understand the determinants of institutions.
Institutional Trap
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Author : Victor Polterovich
language : en
Publisher:
Release Date : 2011
Institutional Trap written by Victor Polterovich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
One of the main obstacles for successful economic development is the formation of institutional traps, inefficient yet stable norms of behaviour. Domination of barter exchange, arrears, corruption and black market activities are examples of institutional traps that have hampered reforms in transition economies. Institutional traps are supported by mechanisms of coordination, learning, linkage and cultural inertia. The acceleration of economic growth, systemic crisis, the evolution of some cultural characteristics and the development of civil society may result in breaking out of institutional traps. Examples from the history of the United States and Russia are considered.
Institutional Trap
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Author : Quy-Toan Do
language : en
Publisher:
Release Date : 2013
Institutional Trap written by Quy-Toan Do and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The author studies the persistence of inequality and inefficient governance in a physical capital accumulation model with perfect information, missing credit markets, and endogenous barriers to entry. When access to investment opportunities is regulated, rent-seeking entrepreneurs form coalitions of potentially varying size to bribe a regulator to restrict entry. Small coalitions run short of resources, while large coalitions suffer more severe free-rider problems. The distribution of wealth thus determines the equilibrium coalition structure of the economy and consequently the level of regulatory capture. A dynamic analysis supports the persistence of inefficiencies in the long run. Initial conditions determine whether the economy converges to a steady state characterized by efficient governance and low levels of inequality, or a path toward an institutional trap where regulatory capture and wealth inequality reinforce each other.
Institutional Trap
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Author : Quý Toàn Đõ̂
language : en
Publisher:
Release Date : 2004
Institutional Trap written by Quý Toàn Đõ̂ and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Economic development categories.
The author studies the persistence of inequality and inefficient governance in a physical capital accumulation model with perfect information, missing credit markets, and endogenous barriers to entry. When access to investment opportunities is regulated, rent-seeking entrepreneurs form coalitions of potentially varying size to bribe a regulator to restrict entry. Small coalitions run short of resources, while large coalitions suffer more severe free-rider problems. The distribution of wealth thus determines the equilibrium coalition structure of the economy and consequently the level of regulatory capture. A dynamic analysis supports the persistence of inefficiencies in the long run. Initial conditions determine whether the economy converges to a steady state characterized by efficient governance and low levels of inequality, or a path toward an institutional trap where regulatory capture and wealth inequality reinforce each other.
Social Traps And The Problem Of Trust
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Author : Bo Rothstein
language : en
Publisher: Cambridge University Press
Release Date : 2005-10-06
Social Traps And The Problem Of Trust written by Bo Rothstein and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-06 with Political Science categories.
A 'social trap' is a situation where individuals, groups or organisations are unable to cooperate owing to mutual distrust and lack of social capital, even where cooperation would benefit all. Examples include civil strife, pervasive corruption, ethnic discrimination, depletion of natural resources and misuse of social insurance systems. Much has been written attempting to explain the problem, but rather less material is available on how to escape it. In this book, Bo Rothstein explores how social capital and social trust are generated and what governments can do about it. He argues that it is the existence of universal and impartial political institutions together with public policies which enhance social and economic equality that creates social capital. By introducing the theory of collective memory into the discussion, Rothstein makes an empirical and theoretical claim for how universal institutions can be established.
A Middle Quality Institutional Trap Democracy And State Capacity In Latin America
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Author : Sebastián L. Mazzuca
language : en
Publisher: Cambridge University Press
Release Date : 2021-02-11
A Middle Quality Institutional Trap Democracy And State Capacity In Latin America written by Sebastián L. Mazzuca and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-11 with Political Science categories.
Latin America is currently caught in a middle-quality institutional trap, combining flawed democracies and low-to-medium capacity States. Yet, contrary to conventional wisdom, the sequence of development - Latin America has democratized before building capable States - does not explain the region's quandary. States can make democracy, but so too can democracy make States. Thus, the starting point of political developments is less important than whether the State-democracy relationship is a virtuous cycle, triggering causal mechanisms that reinforce each other. However, the State-democracy interaction generates a virtuous cycle only under certain macroconditions. In Latin America, the State-democracy interaction has not generated a virtuous cycle: problems regarding the State prevent full democratization and problems of democracy prevent the development of state capacity. Moreover, multiple macroconditions provide a foundation for this distinctive pattern of State-democracy interaction. The suboptimal political equilibrium in contemporary Latin America is a robust one.
Institutional Inertia
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Author : Ms.Laura Valderrama
language : en
Publisher: International Monetary Fund
Release Date : 2009-09-01
Institutional Inertia written by Ms.Laura Valderrama and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-09-01 with Business & Economics categories.
We study the relative efficiency of outside-owned versus employee-owned firms and analyze implications for institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on technology choice is used to influence the later vote on the sharing rule. We show how this dynamic voting generates a systematic technological bias that is contingent on firm ownership. We provide conditions under which the pivotal voter's political leverage leads the firm to an institutional trap whereby majority voting and inefficient technology choice reinforce each other, leading to institutional inertia.
Social Traps And The Problem Of Trust
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Author : Bo Rothstein
language : en
Publisher: Cambridge University Press
Release Date : 2005-10-06
Social Traps And The Problem Of Trust written by Bo Rothstein and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-06 with Political Science categories.
Bo Rothstein explores how social capital and social trust are generated and what governments can do about it. A 'social trap' is a situation where individuals, groups or organizations are unable to cooperate owing to mutual distrust and lack of social capital, even where cooperation would benefit all. Examples include civil strife, pervasive corruption, ethnic discrimination, depletion of natural resources and misuse of social insurance systems. Much has been written attempting to explain the problem, but rather less material is available on how to escape it.
Asia And The Middle Income Trap
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Author : Francis E. Hutchinson
language : en
Publisher: Routledge
Release Date : 2016-07-01
Asia And The Middle Income Trap written by Francis E. Hutchinson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-01 with Business & Economics categories.
The term ‘Middle-Income Trap’ refers to countries which stagnate economically after reaching a certain level of per capita income on the basis of labour- and capital-intensive growth, and are struggling to transition towards more skill-intensive and technology-driven development. It has resonance for the increasing number of countries in Asia who have either languished in middle-income status for extended periods of time, or are worried about growth slow-downs. This book sets outs the conceptual underpinnings of the Middle-Income Trap and explores the various ways it can be defined. It also focuses on the debate surrounding the Middle-Income Trap which questions the appropriate institutional and policy settings for middle-income countries to enable them to continue past the easy phase of economic growth. The book engages with this debate by investigating the role of institutions, human capital, and trade policy in helping countries increase their income levels and by highlighting factors which enable the shift to higher and qualitatively better growth. It questions how the large emerging economies in Asia such as China, Indonesia, and India are currently grappling with the challenges of transitioning from labour-intensive to technology- and knowledge-intensive production, and discusses what can be learnt from the countries that have been able to escape the trap to attain high-income status. Providing a conceptual framework for the Middle-Income Trap, this book will be of interest to students and scholars of Asian Economics, Comparative Economics and Asian Studies.
Trapped In The Middle
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Author : José Antonio Alonso
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-10-22
Trapped In The Middle written by José Antonio Alonso and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-22 with categories.
Trapped in the Middle? investigates whether middle-income traps really exist and, in case they do, how these pitfalls are manifested, their causes, what economic policy measures are required to escape from them, and what international cooperation can do to support this process.