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The structural interdependence, in fact, forms the basis for the policy maker's choice behaviour for policy or policy mixes. The spectrum formed by various policy mixes depends on the levels of coordination between agents. Paul Rosenstein-Rodan declared as early as in 1943, that economic development could be thought as massive coordination failure, in which several investments do not occur simply because other complementary investments are not made, and there latter investments are not forthcoming simply because the former are missing. Thus we may conceive two Equilibria under the very same conditions, one based on positive expectations in one sector due to realizations of various policy outcomes in other sectors and other involving frustration and persistent stagnation in which frustration due to negative policy outcome in one sector spill over to the other sector.
This serves as potential explanation why similar policy instruments in similar economics behave differently and give rise to different or dissimilar policy outcomes. It, in fact, depends on the nature of belief and expectations held by agents in different sectors concerning the actions of each other.
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.
examine the efficiency of quantitative credit control instruments.
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Development of Green Indicators Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Q. Political Trans-national Activity? The dynamics resulting from the institutional interdependencies are of major importance for an understanding of the process of political t
Sustainability, more recently referred to as ‘sustainable development', came from the idea of integrating economic development and environmental protection. The concept is based on
The State attempts to oversee, as exemplified by Art. 39 (b) and (c) of our Constitution, that private activities may not cause harm to the common good and in case they do so corre
what are principles of multi unit finance and fiscal federalism in India
Case for the Market With the objective of maximising total value of output focused on observing real factors of production, through the logical 'tool of marginal produ
Problem 1: i) Define the three main Economic Systems? ii) How can knowledge on price, income and cross price elasticity of demand, be helpful to the Government and a firm,
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