Search Results for "principled-agents-the-political-economy-of-good-government-the-lindahl-lectures"

Principled Agents?

Principled Agents?

The Political Economy of Good Government

  • Author: Timothy Besley
  • Publisher: Oxford University Press on Demand
  • ISBN: 019927150X
  • Category: Business & Economics
  • Page: 266
  • View: 8753
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What is good government? Why do some governments fail? How do you implement political accountability in practice? What incentives do you need to put in place to ensure that politicians and public servants act in the public interest and not their own? These questions and many more are addressed in Timothy Besley's intriguing Lindahl lectures. Economic analyses of government usually divide into two broad camps. One which emphasizes government as a force for public good that can regulate markets, distribute resources and generally work towards improving the lives of its citizens. The other sees government as driven by private interests, susceptible to those with the power to influence its decisions and failing to incentivize its officials to act for the greater public good. This book adopts a middle way between the two extremes, the Publius approach, which recognizes the potential for government to act for the public good but also accepts the fact that things often go wrong. It shares the view that there are certain institutional preconditions for effective government but then proceed to examine exactly what those preconditions are. Timothy Besley emphasises that it is not just about designing an appropriate institutional framework but also about understanding the way incentives work and the process by which the political class is selected.

Pillars of Prosperity

Pillars of Prosperity

The Political Economics of Development Clusters

  • Author: Timothy Besley,Torsten Persson
  • Publisher: Princeton University Press
  • ISBN: 0691152683
  • Category: Business & Economics
  • Page: 375
  • View: 5584
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"Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things." So wrote Adam Smith a quarter of a millennium ago. Using the tools of modern political economics and combining economic theory with a bird's-eye view of the data, this book reinterprets Smith's pillars of prosperity to explain the existence of development clusters--places that tend to combine effective state institutions, the absence of political violence, and high per-capita incomes. To achieve peace, the authors stress the avoidance of repressive government and civil conflict. Easy taxes, they argue, refers not to low taxes, but a tax system with widespread compliance that collects taxes at a reasonable cost from a broad base, like income. And a tolerable administration of justice is about legal infrastructure that can support the enforcement of contracts and property rights in line with the rule of law. The authors show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods. In line with much historical research, international conflict has also been an important force behind effective states by fostering common interests. The absence of common interests and/or cohesive political institutions can explain the existence of very different development clusters in fragile states that are plagued by poverty, violence, and weak state capacity.

Handbook of Multilevel Finance

Handbook of Multilevel Finance

  • Author: Ehtisham Ahmad,Giorgio Brosio
  • Publisher: Edward Elgar Publishing
  • ISBN: 0857932292
  • Category: Business & Economics
  • Page: 672
  • View: 3333
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This Handbook explores and explains new developments in the _second generation‘ theory of public finance, in which benevolent rulers and governments have been replaced by personally motivated politicians and the associated institutions. Following a com

Drivers of Corruption

Drivers of Corruption

A Brief Review

  • Author: Tina Søreide
  • Publisher: World Bank Publications
  • ISBN: 1464804028
  • Category: Law
  • Page: 92
  • View: 6965
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This report provides an overview of arguments explaining the risk of corruption. Corrupt acts are subject to decision making authority and assets available for grabbing. These assets can be stolen, created by artificial shortage, or become available as the result of a market failure. Assets that are especially exposed to corruption include profits from the private sector, revenues from the export of natural resources, aid and loans, and the proceeds of crime. Whether or not opportunities for corruption are exploited depends on the individuals involved, the institution or society they are part of, and the law enforcement circumstances. Corruption usually persists in situations in which players are aware of the facts but nonetheless condone the practice. Absence of reaction can result from information asymmetries (in which the people who are supposed to act are not aware of the need to act), coordination failure, patronage-determined loyalty, and incentive problems at the political level. This review of results and insights from different parts of the scholarly literature on corruption focuses on areas where research can guide anticorruption policy. The report also describes a number of corruption-related challenges in need of more attention from researchers.

Corruption, Grabbing and Development

Corruption, Grabbing and Development

Real World Challenges

  • Author: Tina Søreide,Aled Williams
  • Publisher: Edward Elgar Publishing
  • ISBN: 1782544410
  • Category: Social Science
  • Page: 232
  • View: 5909
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The book's sixteen case studies explore why certain practices constitute forms of grabbing, what implications they have for the achievement of development goals, and how policy options should take the characteristics of grabbing into account.

Political Economy in Macroeconomics

Political Economy in Macroeconomics

  • Author: Allan Drazen
  • Publisher: Princeton University Press
  • ISBN: 0691188009
  • Category: Business & Economics
  • Page: N.A
  • View: 3451
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Originally, economics was called political economy, and those studying it readily accepted that economic decisions are made in a political world. But economics eventually separated itself from politics to pursue rigorous methods of analyzing individual behavior and markets. Recently, an increasing number of economists have turned their attention to the old question of how politics shape economic outcomes. To date, however, this growing literature has lacked a cogent organization and a unified approach. Here, in the first full-length examination of how political forces affect economic policy decisions, Allan Drazen provides a systematic treatment, organizing the increasingly influential "new political economy" as a more established field at the highly productive intersection of economics and political science. Although he provides an extraordinarily helpful guide to the recent explosion of papers on political economy in macroeconomics, Drazen moves far beyond survey, giving definition and structure to the field. He proposes that conflict or heterogeneity of interests should be the field's essential organizing principle, because political questions arise only when people disagree over which economic policies should be enacted or how economic costs and benefits should be distributed. Further, he illustrates how heterogeneity of interests is crucial in every part of political economy. Drazen's approach allows innovative treatment--using rigorous economic models--of public goods and finance, economic growth, the open economy, economic transition, political business cycles, and all of the traditional topics of macroeconomics. This major text will have an enormous impact on students and professionals in political science as well as economics, redefining how decision makers on several continents think about the full range of macroeconomic issues and informing the approaches of the next generation of economists.

Corruption and Criminal Justice

Corruption and Criminal Justice

Bridging Economic and Legal Perspectives

  • Author: Tina Søreide
  • Publisher: Edward Elgar Publishing
  • ISBN: 1784715980
  • Category: Law
  • Page: 288
  • View: 6418
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Criminal law efficiency is a concept often referred to but seldom defined. Clarity, the author argues, is necessary for finding practical solutions to fundamental challenges in this area of law, especially with the criminal justice system itself at risk. Tina Søreide offers views in contrast to mainstream ideas on optimal criminal law responses to corruption, with emphasis on the fundamental role of the criminal justice system in the fight against corruption, and the effect this can have on other mechanisms in society. Her analysis explains the concept of criminal law efficiency through economic approaches and why many criminal law responses to corruption are at risk of becoming ‘façade strategies’ that may, in fact facilitate corruption. Corruption and Criminal Justice offers insights into the obstacles that policymakers and government advisors cannot ignore. It serves as an invaluable resource for advanced students and academics interested in law, economics, and large corporations.

Environmental Economics and Sustainability

Environmental Economics and Sustainability

  • Author: Brian Chi-ang Lin,Siqi Zheng
  • Publisher: John Wiley & Sons
  • ISBN: 111932808X
  • Category: Business & Economics
  • Page: 328
  • View: 7709
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Environmental Economics and Sustainability presents a collection of peer-reviewed research articles contributed by international experts that reveal the current state of our knowledge in the field of environmental economics. Presents the latest research results on a plethora of issues relating to environmental economics and sustainability Features original contributions from top experts in the field from around the world Addresses several of the contemporary challenges of sustainability while infusing new energy into the field of environmental economics Covers myriad topics relating to environmental economics and sustainability including climate change, air pollution, CO2 emissions, recycling, and the international environmental agreement

Public Finance and Public Choice

Public Finance and Public Choice

Analytical Perspectives

  • Author: John Cullis,Philip R. Jones
  • Publisher: Oxford University Press
  • ISBN: 0199234787
  • Category: Business & Economics
  • Page: 531
  • View: 5448
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Public Finance and Public Choice provides a comprehensive analysis of the economics of the public sector, taking a diagrammatic approach to the subject. Particular emphasis is given to the public choice and behavioural economics schools of thought.

The Making of Economic Policy

The Making of Economic Policy

A Transaction-cost Politics Perspective

  • Author: Avinash K. Dixit
  • Publisher: MIT Press
  • ISBN: 9780262540988
  • Category: Political Science
  • Page: 192
  • View: 5169
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The Making of Economic Policy begins by observing that most countries' trade policies are so blatantly contrary to all the prescriptions of the economist that there is no way to understand this discrepancy except by delving into the politics. The same is true for many other dimensions of economic policy. Avinash Dixit looks for an improved understanding of the politics of economic policy-making from a transaction cost perspective. Such costs of planning, implementing, and monitoring an exchange have proved critical to explaining many phenomena in industrial organization. Dixit discusses the variety of similar transaction costs encountered in the political process of making economic policy and how these costs affect the operation of different institutions and policies. Dixit organizes a burgeoning body of research in political economy in this framework. He uses U.S. fiscal policy and the General Agreement on Tariffs and Trade (GATT) as two examples that illustrate the framework, and show how policy often deviates from the economist's ideal of efficiency. The approach reveals, however, that some seemingly inefficient practices are quite creditable attempts to cope with transaction costs such as opportunism and asymmetric information. Copublished with the Center for Economic Studies and the Ifo Institute

Proceedings of the British Academy, Volume 131, 2004 Lectures

Proceedings of the British Academy, Volume 131, 2004 Lectures

  • Author: N.A
  • Publisher: Oxford University Press
  • ISBN: 9780197263518
  • Category: Business & Economics
  • Page: 487
  • View: 4875
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The topical issues debated in this volume include the patenting of AIDS drugs, the future pensions crisis, Britain's universities, and Pan-Islam.There are studies of Shakespeare, Pope, Montaigne, Robert Graves, and William Faulkner. And there are lectures on the Inquisition, empires in history, and the journey towards spiritual fulfilment.

Essays on the Political Economy of Corruption and Environmental Regulation in Brazil

Essays on the Political Economy of Corruption and Environmental Regulation in Brazil

  • Author: Claudio Ferraz do Amaral
  • Publisher: N.A
  • ISBN: N.A
  • Category:
  • Page: 288
  • View: 2512
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The asymmetry of information between voters and policymakers is a central feature of the political process. Voters do not observe politicians' actions and their interests are not always aligned with politicians objectives. Hence, elections play an important role by making politicians accountable for poor performance. However, political accountability might also induce distortions if policymakers adopt excessively popular policies near election periods. This thesis examines the relationship between political incentives, corruption, and the implementation of regulatory policies using a framework from political agency models and unique datasets on municipal corruption and environmental regulation from Brazil.

The Public Economics of the Environment

The Public Economics of the Environment

  • Author: Agnar Sandmo
  • Publisher: Oxford University Press
  • ISBN: 019829798X
  • Category: Business & Economics
  • Page: 163
  • View: 6830
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Environmental policy is high on the political agenda in many countries. This book identifies the failures of the market mechanism in the face of environmental problems and shows how economic policy should be designed to overcome them. Special attention is paid to the possible benefits from a green tax reform.

Losing Control

Losing Control

The Emerging Threats to Western Prosperity

  • Author: Stephen D. King
  • Publisher: N.A
  • ISBN: N.A
  • Category: Business & Economics
  • Page: 279
  • View: 726
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Argues that the future will bring major redistribution of wealth and power around the world, which will result in social and political consequences in the United States and Europe, when the population that is accustomed to living in prosperity must stop living beyond their means.

The Myth of Ownership

The Myth of Ownership

Taxes and Justice

  • Author: Liam B. Murphy,Thomas Nagel
  • Publisher: Oxford University Press, USA
  • ISBN: 0195176561
  • Category: Business & Economics
  • Page: 228
  • View: 2682
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In a capitalist economy, taxes are the most important instrument by which the political system puts into practice a conception of economic or distributive justice. This book unites philosophical discussion of justice with debates on tax policy.

Demeaned But Empowered

Demeaned But Empowered

The Social Power of the Urban Poor in Jamaica

  • Author: Obika Gray
  • Publisher: University of West Indies Press
  • ISBN: 9789766401535
  • Category: Political Science
  • Page: 429
  • View: 4019
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Gray's central thesis asserts that the Jamaican state is a form of predatory state that incorporates contradictory social forces into an arrangement that is hierarchical, often brutal and ultimately debilitating to democracy. He introduces a series of constructs to support this argument, but the more interesting and novel theses are to be found in his vivid description of the social forces that resist the predatory state and how they have carved out a modicum of autonomy based on what he describes as an elaborate value system of badness/honour.

Lectures

Lectures

  • Author: N.A
  • Publisher: N.A
  • ISBN: N.A
  • Category: Humanities
  • Page: N.A
  • View: 8227
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Cities, Agglomeration, and Spatial Equilibrium

Cities, Agglomeration, and Spatial Equilibrium

  • Author: Edward Ludwig Glaeser
  • Publisher: Oxford University Press
  • ISBN: 019929044X
  • Category: Business & Economics
  • Page: 275
  • View: 5705
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Using a series of simple models and economic theory, Glaeser illustrates the primary features of urban economics including the concepts of spatial equilibrium and agglomeration economies.

The Journal of Political Economy

The Journal of Political Economy

  • Author: N.A
  • Publisher: N.A
  • ISBN: N.A
  • Category: Economics
  • Page: N.A
  • View: 1385
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Deals with research and scholarship in economic theory. Presents analytical, interpretive, and empirical studies in the areas of monetary theory, fiscal policy, labor economics, planning and development, micro- and macroeconomic theory, international trade and finance, and industrial organization. Also covers interdisciplinary fields such as history of economic thought and social economics.

Public Finance and Public Policy

Public Finance and Public Policy

Responsibilities and Limitations of Government

  • Author: Arye L. Hillman
  • Publisher: Cambridge University Press
  • ISBN: 1139475371
  • Category: Business & Economics
  • Page: 859
  • View: 2308
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The second edition of Public Finance and Public Policy retains the first edition's themes of investigation of responsibilities and limitations of government. The present edition has been rewritten and restructured. Public choice and political economy concepts and political and bureaucratic principal-agent problems are introduced at the beginning for application to later topics. Fairness, envy, hyperbolic discounting, and other concepts of behavioral economics are integrated throughout. The consequences of asymmetric information and the tradeoff between efficiency and ex-post equality are recurring themes. Key themes investigated are markets and governments, institutions and governance, public goods, public finance for public goods, market corrections (externalities and paternalist public policies), voting, social justice, entitlements and equality of opportunity, choice of taxation, and the need for government. The purpose of the book is to provide an accessible introduction to the use of public finance and public policy to improve on market outcomes.