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Political instability and growth in dictatorships

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  • Jody Overland
  • Kenneth Simons
  • Michael Spagat

    ()

Abstract

We model growth in dictatorships facing each period an endogenous probability of “political catastrophe'' that would extinguish the regime's wealth extraction ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the dictator plunders the country's resources and the economy shrinks. With high initial domestic capital the economy eventually grows faster than is socially optimal. Copyright Springer Science + Business Media, Inc. 2005

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File URL: http://hdl.handle.net/10.1007/s11127-005-3060-0
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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 125 (2005)
Issue (Month): 3 (December)
Pages: 445-470

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Handle: RePEc:kap:pubcho:v:125:y:2005:i:3:p:445-470

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Web page: http://www.springerlink.com/link.asp?id=100332

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