Exiting A Lawless State
Exiting A Lawless State:

An earlier paper showed that an economy could be trapped in an equilibrium state in which the absence of the rule of law led to asset-stripping, and the prevalence of asset-stripping led to the absence of a demand for the rule of law, highlighting a coordination failure. This paper looks more carefu...

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Bibliographische Detailangaben
1. Verfasser: Hoff, Karla (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2008
Schlagworte:
Assets
Bankruptcy and Resolution of Financial Distress
Corruption
Democracy
Finance and Financial Sector Development
Gender
Gender and Law
Governance
Labor Policies
Law and Development
Laws
Lobbying
Minister
National Governance
Politicians
Privatization
Public Sector Corruption and Anticorruption Measures
Rule of law
Social Protections and Labor
Theft
Online-Zugang:DE-522
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Volltext
Zusammenfassung:An earlier paper showed that an economy could be trapped in an equilibrium state in which the absence of the rule of law led to asset-stripping, and the prevalence of asset-stripping led to the absence of a demand for the rule of law, highlighting a coordination failure. This paper looks more carefully at the dynamics of transition from a non-rule-of-law state. The paper identifies a commitment problem as the critical feature inhibiting the transition: the inability, under a rule of law, to forgive theft. This can lead to the perpetuation of the non-rule-of-law state, even when it might seem that the alternative is Pareto-improving
Beschreibung:1 Online-Ressource (1 online resource (38 p.))
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