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Economic Backwardness in Political Perspective

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  • Acemoglu, Daron
  • Robinson, James A

Abstract

We construct a simple model where political elites may block technological and institutional development, because of a ‘political replacement effect.’ Innovations often erode elites’ incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political elites are unwilling to initiate change, and may even block economic development. We show that elites are unlikely to block development when there is a high degree of political competition, or when they are highly entrenched. It is only when political competition is limited and also their power is threatened that elites will block development. We also show that such blocking is more likely to arise when political stakes are higher, and that external threats may reduce the incentives to block. We argue that this model provides an interpretation for why Britain, Germany and the US industrialized during the nineteenth century, while the landed aristocracy in Russia and Austria-Hungary blocked development.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3261.

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Date of creation: Mar 2002
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Handle: RePEc:cpr:ceprdp:3261

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Keywords: development; industrialization; institutions; political economy;

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  1. Aghion, Philippe & Alesina, Alberto & Trebbi, Francesco, 2004. "Endogenous Political Institutions," Scholarly Articles 4481498, Harvard University Department of Economics.
  2. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal Of Fortune: Geography And Institutions In The Making Of The Modern World Income Distribution," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1231-1294, November.
  3. Alesina, Alberto & Rodrik, Dani, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 109(2), pages 465-90, May.
  4. Persson, T. & Tabellini, G., 1993. "Is Inequality Harmful for Growth," Papers 537, Stockholm - International Economic Studies.
  5. Stephen L. Parente & Edward C. Prescott, 1997. "Monopoly rights: a barrier to riches," Staff Report 236, Federal Reserve Bank of Minneapolis.
  6. Engerman,Stanley L. & Gallman,Robert E. (ed.), 1996. "The Cambridge Economic History of the United States," Cambridge Books, Cambridge University Press, number 9780521394420.
  7. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 803-832, December.
  8. repec:ucp:bkecon:9780226731445 is not listed on IDEAS
  9. Stephen L. Parente & Edward C. Prescott, 2002. "Barriers to Riches," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661306, December.
  10. James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
  11. Lancaster, Kelvin, 1973. "The Dynamic Inefficiency of Capitalism," Journal of Political Economy, University of Chicago Press, vol. 81(5), pages 1092-1109, Sept.-Oct.
  12. Perkins, Dwight H., 1967. "Government as an Obstacle to Industrialization: The Case of Nineteenth-Century China," The Journal of Economic History, Cambridge University Press, vol. 27(04), pages 478-492, December.
  13. Freudenberger, Herman, 1967. "State Intervention as an Obstacle to Economic Growth in the Habsburg Monarchy," The Journal of Economic History, Cambridge University Press, vol. 27(04), pages 493-509, December.
  14. Tornell, Aaron & Velasco, Andes, 1992. "The Tragedy of the Commons and Economic Growth: Why Does Capital Flow from Poor to Rich Countries?," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1208-31, December.
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