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This variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights insecure. One reason is that rent seeking, especially by the governments officials are likely to hurt innovative activities: when returns to rent seeking relative to innovation increases. This may give rise to multiple equilibrium. Then in one equilibrium, fraction, and returns of innovations is low and because fraction of rent seeks is high. But simultaneously there is another equilibrium at which the opposite is the case.
what id the definition of public debt burden?
Define the concept of economic growth?
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what is the definition of public debt burden?
It has been accepted to most policy and development economists that among the most important sets of institution in an economy are those that provide for enforcement of contracts.
what are the costs and consequences of providing the subsidies and welfare?
Q. Show the Redistribution Policy? We know that despite policy interventions the disparity of income has been increasing in nearly all the countries. United States is highly un
Public Economics can broadly be understood as that Economics which deals withpublic intervention in the economy. Its domain is supposed to encompass rationalefor public interventio
Public Finance was always dealing with intervention through fiscal instruments, including federal relationships between different tiers of governments and later on it subsumed Publ
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