The economics of coordination failures is widely interpreted, both by its advocates and by its critics alike, as a call for more active government interventions in economic development. The goal of this paper is to explain that, contrary to the common perception, the logic of coordination failures does not justify policy activism, any greater role of the government in coordination.
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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number
1123.
Length: Date of creation: Apr 1995 Date of revision: Handle: RePEc:nwu:cmsems:1123
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Jerker Denrell & Christina Fang & Sidney Winter, 2003.
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2003/10, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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