Power, disributive conflicts, and multiple growth paths
Saint Paul, Giles and Verdier, Thierry (1997) Power, disributive conflicts, and multiple growth paths. Journal of Economic Growth, 2, (2), 155-168. (doi:10.1023/A:1009729117637).
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This article shows that multiple growth paths may occurin a politico-economic model of endogenous growth. This multiplicityis characterized by the coexistence of the low-tax, low-capital-flightequilibrium and a high-tax, high-capital-flight equilibrium.The likelihood of multiplicity is crucially related to the structureof power in society—namely, it is necessary that the politicallydecisive agents have a greater access to international capital markets than the average in the economy.
|Keywords:||growth, taxation, capital flight, multiple equilibria, redistribution|
|Subjects:||J Political Science > JA Political science (General)
H Social Sciences > HB Economic Theory
|Divisions:||University Structure - Pre August 2011 > School of Social Sciences > Economics
|Date Deposited:||14 Dec 2007|
|Last Modified:||27 Mar 2014 18:20|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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