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An economic theory of leadership turnover

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  • Gallego, M.
  • Pitchik, C.

Abstract

In an infinite horizon model, a leader of a group of citizens exerts effort in each period to maintain a public good that enhances the profits of a group of kingmakers. In each period, the kingmakers decide whether to overthrow the leader so as to have a chance of becoming the leader. Consistent with the empirical literature, we find that (1) leadership turnover occurs when the kingmakers\\' expected earnings are low; (2) leadership turnover declines with duration in office; (3) leadership turnover declines as the technology for providing the public good improves; (4) leadership turnover increases as the number of kingmakers increases.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 88 (2004)
Issue (Month): 12 (December)
Pages: 2361-2382

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Handle: RePEc:eee:pubeco:v:88:y:2004:i:12:p:2361-2382

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Web page: http://www.elsevier.com/locate/inca/505578

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  1. Joshua Greene & Delano Villanueva, 1991. "Private Investment in Developing Countries: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 33-58, March.
  2. Gallego, M.E., 1997. "Economic Performance and Leadership Accountability: An Econometric Analysis," Working Papers 97-7, Wilfrid Laurier University, Department of Economics.
  3. Daron Acemoglu & James A. Robinson, 2001. "A Theory of Political Transitions," American Economic Review, American Economic Association, vol. 91(4), pages 938-963, September.
  4. Green, Edward J & Porter, Robert H, 1984. "Noncooperative Collusion under Imperfect Price Information," Econometrica, Econometric Society, vol. 52(1), pages 87-100, January.
  5. Alesina, Alberto, et al, 1996. " Political Instability and Economic Growth," Journal of Economic Growth, Springer, vol. 1(2), pages 189-211, June.
  6. Martin C. McGuire & Mancur Olson Jr., 1996. "The Economics of Autocracy and Majority Rule: The Invisible Hand and the Use of Force," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 72-96, March.
  7. Roubini, Nouriel & Swagel, Phillip & Ozler, Sule & Alesina, Alberto, 1996. "Political Instability and Economic Growth," Scholarly Articles 4553024, Harvard University Department of Economics.
  8. repec:fth:coluec:530 is not listed on IDEAS
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