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Political competition in a model of economic growth: Some theoretical results

Boylan, Richard T. and Ledyard, John and McKelvey, Richard D. (1996) Political competition in a model of economic growth: Some theoretical results. Economic Theory, 7 (2). pp. 191-205. ISSN 0938-2259. doi:10.1007/BF01213902.

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We analyze the role of political competition on the type of economic policies that are selected in a one sector model of economic growth. We identify conditions under which neoclassical optimal growth plans occur, and conditions in which political business cycles occur. We find that the ability commit to multiperiod economic policy leads to less political stability of economic plans.

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Alternate Title:Political Competition in a Model of Economic Growth; Some Theoretical Results
Additional Information:© 1996 Springer-Verlag. Received: November 2, 1994. Support for this research was provided in part by NSF grant #SES-9022932 to the California Institute of Technology. We are grateful to a referee for pointing out that our results could be extended to supra majority rules, as in Proposition 1.
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Issue or Number:2
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Official Citation:Boylan, R.T., Ledyard, J. & McKelvey, R.D. Econ Theory (1996) 7: 191.
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:80980
Deposited By: Tony Diaz
Deposited On:30 Aug 2017 21:24
Last Modified:15 Nov 2021 19:40

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