The political economy of public income volatility: With an application to the resource curse

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• 作者：James A. Robinson^a ; ^{jamesrobinson@uchicago.edu} ; Ragnar Torvik^b ; ^{ragnar.torvik@svt.ntnu.no} ; Thierry Verdier^c ; ^{tv@java.ens.fr}
• 关键词：Income volatility ; Public policy ; Politics ; Resource extraction
• 刊名：Journal of Public Economics
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：145
• 期：Complete
• 页码：243-252
• 全文大小：392 K
• 卷排序：145

文摘

We develop a new political economy connection between the volatility of the public budget and economic growth. Volatility in public budgets may increase patronage employment. We show that volatility in prices of natural resources may in itself be a source of inefficient resource extraction.