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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.
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principles of multi unit finance
why is it important to consider the complex nature of health and health care when examining economic principles related to health care delivery?
U=4X+G where X is private spending and G is public spending. what is the marginal rate of substitution between public and private
Characteristics of IS Curve
general equilibrium analysis of taxation in shven and whalley (1984) article
Question: Describe the main measures of size and/or cutoff point below which economies are classed as small? In 1982 the Development Committee of the World Bank and the Int
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