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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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 |
| Item ID: | 33462 |
| Date Deposited: | 14 Dec 2007 |
| Last Modified: | 02 Mar 2012 13:28 |
| Contributors: | Saint Paul, Giles (Author) Verdier, Thierry (Author) |
| Date: | June 1997 |
| Status: | Published |
| URI: | http://eprints.soton.ac.uk/id/eprint/33462 |
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