Search results
national literature was an irritating deficit for a society guided by the self-image of a chosen people; it called for an explanation. Starting with the cultural premise of a privileged nation, most of the first theories of American literature were therefore almost inevitably also theories of its defects and shortcomings. Metho
- NOEL MAURER
- The Paradox of Growth Amidst Instability
- Version 9.6 Tuesday, October 02, 2001
- The Extant Literature
- Implications
- Private Contracts and Credible Commitments
- Information Asymmetries and Vertical Integration
- Characteristics of Vertical Political Integration
- VPI and Political Instability
Instituto Tecnológico Autónomo de México Please do not circulate or cite without permission Comments and Suggestions Welcome.
Our motivation in writing this book was the lack of fit between the political science and economics literatures on the political determinants of economic growth. One of the logical implications of the theoretical literature on the interaction of political and economic institutions is that political instability should have a strongly negative impac...
All governments—stable and unstable—face a commitment problem: if they are strong enough to arbitrate property rights, they are also strong enough to confiscate them.1 If the population does not believe that the government will refrain from exercising its power, then they will not invest. If there is no investment, there will be little economic a...
We draw on two related, but distinct, literatures: the literature on the economic analysis of property rights; and the literature on the commitment problem. The first body of literature is concerned with the efficiency implications of different property rights systems. The focus of this literature is to refute the strong neo-classical view that ins...
The assumptions that we make about governments and asset holders means that commitment problem is not necessarily about the interaction between a government and all of society. Governments can offer selective property rights protection in exchange for some type of economic benefit (typically tax revenues) from a particular asset holder. Property ri...
If property rights can be a private good, then why should an individual asset holder believe that the government will honor a contract after the asset holder has deployed her wealth in productive assets? What keeps the government from unilaterally altering the terms of the contract (by, for example, raising the tax rate), or abrogating it entirely...
The system we have just described (a rent-seeking coalition made up of asset holders, a government too weak to establish a despotic state, and a group that receives rents in exchange for enforcing the contract between the 17 Even if a third party monopolized protection across all markets, it would take an extremely powerful government to be able to...
What are the implications of a fully developed VPI system? That is, what are the political and economic implications of a property rights system in which the lines between the government and asset holders have become blurred via an implicit contract to “integrate” the two groups, and in which a third party enforces the contract? How is VPI differ...
Are VPI contracts credible if governments continually change hands violently and unpredictably? Under some circumstances, political 25 We assume that not all groups in society can solve the coordination problems involved in organizing a rebellion, and therefore rents can be extracted from them with impunity. 26 Rents may be distributed within the...
generic instability and cross-fertilization, of narrative postures and impostures, and their constant redefinition of identity, which contaminates the very concept of genre.
STABILITY AND INSTABILITY A Note in Comparative Political Analysis TAKETSUGU TSURUTANI University of Maine C OMPARATIVE POLITICAL ANALYSTS are presented with a variety of manifestations of political instability among which, for example, are unstable democracies, unstable dictatorships, and fragmented societies. Within each category of unstable ...
In this function they ha ve been part of the study of American literature from its very beginning, beca use this study needed special justification at a time when the interpretation of American litera tu re was still determíned by the traditional canons of the English departments a justification which had to be based on the assumption of a unique and independent national literature.
and origins of political instability and its consequences. Apparent stability sometimes precedes explosive change that profoundly alters basic political institutions. Apparent instability sometimes precedes gradual and not very profound change. If instability and stability form a continuum, like heat and cold, the ignorance of why stable societies
People also ask
What are the consequences of apparent instability?
Is there a relationship between instability and growth?
Does political instability lead to economic collapse or stagnation?
Is political instability inversely correlated with economic growth?
Are credible commitments possible amidst political instability?
Does political apathy guarantee political instability?
American literature as a whole is one of the richest and least explored topics in American studies. The Indian contribution to America is greater than is often believed. The hundreds of Indian words in everyday American English include “canoe,” “tobacco,” “potato,” “mocca-sin,” “moose,” “persimmon,” “raccoon,” “tom-
