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Political Uncertainty and Policy Innovation

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Author Info

  • Christos Kotsogiannis

    (Department of Economics, University of Exeter)

  • Robert Schwager

    (Zentrum fur Europische Wirtschaftsforschung Mannheim)

Abstract

Conventional wisdom has it that outside sources of information enhance the capability of political institutions to separate selfish from benevolent incumbents. This paper investigates, in the presence of innovative public policies whose outcomes are uncertain, the role of outside information and shows that it is more involved than typically thought. While it is true that enhanced information helps in separating politicians, it also creates an externality that reduces the incentives to experiment with innovative public policies.

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File URL: http://people.exeter.ac.uk/cc371/RePEc/dpapers/DP0111.pdf
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Bibliographic Info

Paper provided by Exeter University, Department of Economics in its series Discussion Papers with number 0111.

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Date of creation: Dec 2001
Date of revision:
Handle: RePEc:exe:wpaper:0111

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Web page: http://business-school.exeter.ac.uk/about/departments/economics/
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Related research

Keywords: Policy uncertainty; Political uncertainty; Fiscal federalism; Policy innovation; Experimentation.;

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Cited by:
  1. Hans-Günter Krüsselberg, 2005. "Milton Friedman und der Wissenschaftliche Beirat für Familienfragen Elternkompetenz und Anteilscheine am Schulbudget – Gedanken über Reformpotenziale," Marburg Working Papers on Economics 200506, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  2. Lars P. Feld & Horst Zimmermann & Thomas Döring, 2003. "Föderalismus, Dezentralität und Wirtschaftswachstum," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 72(3), pages 361-377.
  3. Kotsogiannis, Christos & Schwager, Robert, 2006. "On the incentives to experiment in federations," Journal of Urban Economics, Elsevier, vol. 60(3), pages 484-497, November.
  4. Johannes Rincke, 2005. "Yardstick Competition and Policy Innovation," Public Economics 0511010, EconWPA.
  5. Martin Gregor & Peter Tuchyňa, 2007. "Centralization Trade-off with Non-Uniform Taxation," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(3), pages 223-253, November.
  6. Michael Keen & Christos Kotsogiannis, 2003. "Leviathan and Capital Tax Competition in Federations," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 5(2), pages 177-199, 04.

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