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Joseph E. Stiglitz

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Author Info
Hoff, Karla

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Abstract

Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4478.

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Date of creation: 01 Jan 2008
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Handle: RePEc:wbk:wbrwps:4478

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Related research
Keywords: Labor Policies; Economic Theory&Research; Debt Markets; Financial Intermediation;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Mirrlees, James A, 1971. "An Exploration in the Theory of Optimum Income Taxation," Review of Economic Studies, Blackwell Publishing, vol. 38(114), pages 175-208, April. [Downloadable!] (restricted)
  2. Shapiro, Carl, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, MIT Press, vol. 98(4), pages 659-79, November. [Downloadable!] (restricted)
  3. Acemoglu, Daron, 1997. "Training and Innovation in an Imperfect Labour Market," Review of Economic Studies, Blackwell Publishing, vol. 64(3), pages 445-64, July. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Thierry Tressel, 1999. "Financial Intermediation and Growth: Long Run Consequences of Capital Market Imperfections," CSEF Working Papers 20, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
  2. Odd-Helge Fjeldstad & Mick Moore, 2007. "Taxation and State Building: Poor Countries in a Globalised World," CMI Working Papers 11, CMI (Chr. Michelsen Institute), Bergen, Norway. [Downloadable!]
  3. Dorothea Schäfer & Boriss Siliverstovs & Eva Terberger, 2005. "Banking Competition, Good or Bad?: The Case of Promoting Micro and Small Enterprise Finance in Kazakhstan," Discussion Papers of DIW Berlin 479, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  4. Karla Hoff & Joseph E. Stiglitz, 2002. "After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies," NBER Working Papers 9282, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Messick, Richard E, 1999. "Judicial Reform and Economic Development: A Survey of the Issues," World Bank Research Observer, Oxford University Press, vol. 14(1), pages 117-36, February. [Downloadable!]
  6. Takane, Tsutomu, 2000. "Incentives Embedded in Institutions: The Case of Share Contracts in Ghanaian Cocoa Production," The Developing Economies, Institute of Developing Economies, Japan External Trade Organization(JETRO), vol. 38(3), pages 374-397, September. [Downloadable!]
  7. Carnaje, Gideon P., 2007. "Contractual Arrangements in Philippine Fisheries," Discussion Papers DP 2007-22, Philippine Institute for Development Studies. [Downloadable!]
  8. Hoff, Karla & Stiglitz, Joseph E., 2004. "The transition from communism : a diagrammatic exposition of obstacles to the demand for the rule of law," Policy Research Working Paper Series 3352, The World Bank. [Downloadable!]
  9. Ravallion, 1999. "Monitoring targeting performance when decentralized allocation to the poor are unobserved," Policy Research Working Paper Series 2080, The World Bank. [Downloadable!]
  10. Ravallion, Martin, 1998. "Reaching poor areas in a federal system," Policy Research Working Paper Series 1901, The World Bank. [Downloadable!]
  11. M. Ghaffar Chaudhry, 2001. "Theory of Optimal Taxation and Current Tax Policy in Pakistan’s Agriculture," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 40(4), pages 489-502. [Downloadable!]
  12. Aidan Hollis & Arthur Sweetman, 1997. "Microcredit in Pre-Famine Ireland," Economic History 9704002, EconWPA. [Downloadable!]
    Other versions:
  13. Aidan Hollis & Arthur Sweetman, 1996. "The Evolution of A Microcredit Institution: The Irish Loan Funds, 1720 - 1920," Working Papers ecpap-96-01, University of Toronto, Department of Economics. [Downloadable!]
  14. Schady, Norbert R., 2000. "Picking the poor : indicators for geographic targeting in Peru," Policy Research Working Paper Series 2477, The World Bank. [Downloadable!]
    Other versions:
  15. Nabeel A. Goheer, 1999. "Poverty in Pakistan: Increasing Incidence, Chronic Gender Preponderance, and the Plausibility of Grameen-type Intermediation," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 38(4), pages 873-894. [Downloadable!]
  16. Ravallion, Martin, 2000. "Monitoring Targeting Performance When Decentralized Allocations to the Poor Are Unobserved," World Bank Economic Review, Oxford University Press, vol. 14(2), pages 331-45, May. [Downloadable!]
  17. Keefer, Philip, 2004. "A review of the political economy of governance : from property rights to voice," Policy Research Working Paper Series 3315, The World Bank. [Downloadable!]
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