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Policymakers' Horizon and the Sustainability of International Cooperation

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  • Paola Conconi
  • Nicolas Sahuguet

Abstract

This paper examines the impact of policymakers' horizon on the sustainability of international cooperation. We describe a prisoners' dilemma game between two infinitely-lived countries run by policymakers. We show that re-election incentives can act as a discipline device, making it easier to sustain cooperation between policymakers with finite but potentially renewable mandates than between infinitely-lived policymakers. We also show that, when voting suffers from a recency bias, policymakers may have incentives to "collude" to get re-elected and term limits may help international cooperation.

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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/98547.

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Date of creation: 2009
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Publication status: Published in: Journal of public economics (2009) v.93,p.549-558
Handle: RePEc:ulb:ulbeco:2013/98547

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  1. Giovanni Maggi, 1999. "The Role of Multilateral Institutions in International Trade Cooperation," American Economic Review, American Economic Association, vol. 89(1), pages 190-214, March.
  2. Paola Conconi & Nicolas Sahuguet & Maurizio Zanardi, 2009. "Democratic Peace and Electoral Accountability," NajEcon Working Paper Reviews 814577000000000388, www.najecon.org.
  3. Conconi, Paola & Perroni, Carlo, 2009. "Do credible domestic institutions promote credible international agreements?," Journal of International Economics, Elsevier, vol. 79(1), pages 160-170, September.
  4. Glaeser, Edward L, 1997. " Self-Imposed Term Limits," Public Choice, Springer, vol. 93(3-4), pages 389-94, December.
  5. Smith, Lones, 1992. "Folk theorems in overlapping generations games," Games and Economic Behavior, Elsevier, vol. 4(3), pages 426-449, July.
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  7. Emanuel Ornelas, 2005. "Rent Destruction and the Political Viability of Free Trade Agreements," The Quarterly Journal of Economics, MIT Press, vol. 120(4), pages 1475-1506, November.
  8. Eisenberg Daniel & Ketcham Jonathan, 2004. "Economic Voting in U.S. Presidential Elections: Who Blames Whom for What," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-25, August.
  9. Bond, Eric W & Park, Jee-Hyeong, 2002. "Gradualism in Trade Agreements with Asymmetric Countries," Review of Economic Studies, Wiley Blackwell, vol. 69(2), pages 379-406, April.
  10. Conconi, Paola & Sahuguet, Nicolas, 2005. "Re-election Incentives and the Sustainability of International Cooperation," CEPR Discussion Papers 5401, C.E.P.R. Discussion Papers.
  11. Putnam, Robert D., 1988. "Diplomacy and domestic politics: the logic of two-level games," International Organization, Cambridge University Press, vol. 42(03), pages 427-460, June.
  12. Gene M. Grossman & Elhanan Helpman, 2005. "A Protectionist Bias in Majoritarian Politics," The Quarterly Journal of Economics, MIT Press, vol. 120(4), pages 1239-1282, November.
  13. Yianis Sarafidis, 2007. "What Have you Done for me Lately? Release of Information and Strategic Manipulation of Memories," Economic Journal, Royal Economic Society, vol. 117(518), pages 307-326, 03.
  14. Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Wiley Blackwell, vol. 42(2), pages 169-90, April.
  15. Ray C. Fair, 1976. "The Effects of Economic Events on Votes for President," Cowles Foundation Discussion Papers 418, Cowles Foundation for Research in Economics, Yale University.
  16. Lohmann, Susanne, 1993. "Electoral cycles and international policy cooperation," European Economic Review, Elsevier, vol. 37(7), pages 1373-1391, October.
  17. Salant, David J., 1991. "A repeated game with finitely lived overlapping generations of players," Games and Economic Behavior, Elsevier, vol. 3(2), pages 244-259, May.
  18. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  19. Edward Glaeser, 1997. "Self-imposed term limits," Public Choice, Springer, vol. 93(3), pages 389-394, December.
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Cited by:
  1. J. Atsu Amegashie, 2009. "Incomplete Property Rights and Overinvestment," Working Papers 0902, University of Guelph, Department of Economics and Finance.
  2. repec:hal:cesptp:halshs-00497463 is not listed on IDEAS
  3. Hubert Kempf & Stéphane Rossignol, 2010. "National Politics and International Agreements," Documents de travail du Centre d'Economie de la Sorbonne 10052, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.

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