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), pp. 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
Digital Object Identifier (DOI): doi:10.1023/A:1009729117637
ISSNs: 1381-4338 (print)
Keywords: growth, taxation, capital flight, multiple equilibria, redistribution
Subjects:
ePrint ID: 33462
Date :
Date Event
June 1997Published
Date Deposited: 14 Dec 2007
Last Modified: 16 Apr 2017 22:15
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/33462

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