Acemoglu, Daron; Johnson, Simon; Robinson, James Alan; … - National Bureau of Economic Research (NBER) - 2008
We argue that the question of whether and when policy reform works should be investigated together with the political …, but also often shape policy in the post-reform environment. Distortionary policies are more likely to be adopted when … politicians are unconstrained and unaccountable to citizens. This reasoning implies that policy reform should have modest effects …