Endogenous institution formation under a catching-up strategy in developing countries / Justin Yifu Lin, Zhiyun Li
"This paper explores endogenous institution formation under a catching-up strategy in developing countries. Since the catching-up strategy is normally against the compartive advantages of the developing countries, it can not be implemented through laissez-faire market mechanisms, and a governme...
Zapisane w:
| Główni autorzy: | Lin, Justin Yifu |
|---|---|
| organizacja autorów: | World Bank |
| Kolejni autorzy: | Li, Zhiyun |
| Format: | Online-Resource |
| Język: | English |
| Wydane: | [Washington, D.C] : World Bank, 2008 |
| Seria: | Policy research working paper
|
| Hasła przedmiotowe: | |
| Dostęp online: | URL des Erstveröffentlichers |
| Streszczenie: | "This paper explores endogenous institution formation under a catching-up strategy in developing countries. Since the catching-up strategy is normally against the compartive advantages of the developing countries, it can not be implemented through laissez-faire market mechanisms, and a government needs to establish nonmarket institutions to implement the strategy. In a simple two-sector model, the authors show that an institutional complex of price distortion, output control, and a directive allocation system is sufficient to implement the best allocation for the catching-up strategy. Furthermore, removing any of the three components will make it no longer implementable. The analysis also compares the best allocation and prices under the catching-up strategy with their counterparts under no distortions. The results of this paper provide important implications for understanding the institution formation in the developing countries that were pursuing a catching-up strategy after World War II. "--World Bank web site |
|---|---|
| Deskrypcja: | Includes bibliographical references. - Title from PDF file as viewed on 5/8/2009 Erscheinungsjahr in Vorlageform:[2008] Weitere Ausgabe: Lin, Justin Yifu: Endogenous institution formation under a catching-up strategy in developing countries |
| Opis fizyczny: | 1 Online-Ressource (41 Seiten) |
