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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Original Publication URL: http://dx.doi.org/10.1023/A:1009729117637

Description/Abstract

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.

Item Type: Article
ISSNs: 1381-4338 (print)
Related URLs:
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
ePrint ID: 33462
Date Deposited: 14 Dec 2007
Last Modified: 27 Mar 2014 18:20
URI: http://eprints.soton.ac.uk/id/eprint/33462

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