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Why not Africa? – Growth and Welfare Effects of Secure Property Rights
(Springer Netherlands, 2004-07)
The paper presents the long-run equilibrium and development dynamics in the neoclassical growth model and a simple model of endogenous growth when property rights are absent. The results are compared to the outcome in a ...
Distributive politics and economic growth: the Markovian Stackelberg solution
We generalize the result of Alesina and Rodrik (1994) by showing that their static solution is also a time consistent Stackelberg solution of a differential game between the government and the median voter.