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Political Instability and Growth in Proprietary Economics

Overland, Jody; Spaget, Michael - William Davidson Institute, University of Michigan - 1998

individuals pursuing their own interests while they remain in power. We model growth in a 'proprietary economy" facing each period … growth or shrink,9,ge. With low initial domestic capital the proprietor plunders the country's resources and the economy …

Persistent link: https://www.econbiz.de/10005784769

Growth Slowdown Under Central Planning: A Model of Poor Incentives

Brixiová, Zuzana; Bulír, Aleš - William Davidson Institute, University of Michigan - 2002

Centrally planned economies tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how planned economies can end up in a low-effort,...

Persistent link: https://www.econbiz.de/10005489931

Political Instability and Growth in Dictatorships

Overland, Jody; Simons, Kenneth L.; Spagat, Michael - William Davidson Institute, University of Michigan - 2000

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 …

Persistent link: https://www.econbiz.de/10005677417