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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.
How does it work? how is its basic structure?
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Q. What do you understand by Policy Process? Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents
explain the stages and various coordination mechanisms involved in policy process?
what id the definition of public debt burden?
In planning activities how are the decision arrived? what are the different stages of analysis? which factors can be ignored and why? state the manner in which a degree of success
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