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Inefficient Predation, Information, and Contagious Institutional Change

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  • Paul Maarek
  • Michael Dorsch

    ()
    (THEMA, Universite de Cergy-Pontoise
    The American University of Paris)

Abstract

This paper presents an agency theory of revolutionary political transitions from autocracy to democracy. We model authoritarian economic policy as the equilibrium outcome of a repeated game between an elite ruling class and a disenfranchised working class, in which workers have imperfect information about the elite's policy choice and the economy's productive capacity. We characterize the conditions under which, in equilibrium, (i) the elite will set inecient economic institutions under the threat of revolution, (ii) information shocks can catalyze democratic revolutions that may be contagious among similar countries, and (iii) democracy can be consolidated following a political transition

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Paper provided by THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise in its series THEMA Working Papers with number 2012-32.

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Date of creation: 2012
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Handle: RePEc:ema:worpap:2012-32

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Keywords: Political transition; Revolution; Asymmetric information; Contagion; Democratic consolidation; Arab Spring;

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  1. Dani Rodrik, 1998. "Democracies Pay Higher Wages," NBER Working Papers 6364, National Bureau of Economic Research, Inc.
  2. Daron Acemoglu & James A. Robinson, 2006. "Persistence of Power, Elites and Institutions," NBER Working Papers 12108, National Bureau of Economic Research, Inc.
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  8. Timothy Besley & Torsten Persson, 2009. "The origins of state capacity: property rights, taxation and politics," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 33768, London School of Economics and Political Science, LSE Library.
  9. Acemoglu, Daron & Ticchi, Davide & Vindigni, Andrea, 2008. "A Theory of Military Dictatorships," Papers, Princeton University, Research Program in Political Economy 03-10-2008a, Princeton University, Research Program in Political Economy.
  10. Daron Acemoglu & James Robinson, 1999. "A Theory of Political Transitions," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 99-26, Massachusetts Institute of Technology (MIT), Department of Economics.
  11. Daron Acemoglu, 2010. "Institutions, Factor Prices and Taxation: Virtues of Strong States?," NBER Working Papers 15693, National Bureau of Economic Research, Inc.
  12. Rafael La Porta & Andrei Shleifer, 2008. "The Unofficial Economy and Economic Development," NBER Working Papers 14520, National Bureau of Economic Research, Inc.
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  14. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, Springer, vol. 50(1), pages 5-25, January.
  15. Chassang, Sylvain & Miquel, Gerard Padró i, 2009. "Economic Shocks and Civil War," International Quarterly Journal of Political Science, now publishers, now publishers, vol. 4(3), pages 211-228, October.
  16. Grossman, Herschel I, 1991. "A General Equilibrium Model of Insurrections," American Economic Review, American Economic Association, American Economic Association, vol. 81(4), pages 912-21, September.
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Cited by:
  1. Paul Maarek & Michael Dorsch & Karl Dunz, 2012. "Asymmetric Information and Inefficient Regulation of Firms Under the Threat of Revolution," THEMA Working Papers 2012-42, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  2. Paul Maarek & Michael Dorsch & Karl Dunz, 2012. "Macro Shocks, Regulatory Quality and Costly Political Action," THEMA Working Papers 2012-41, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.

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