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Economic Development as Self – Discovery (in Persian)

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  • Mardokhi, Bayazid

    (Iran)

  • Hasman, Rikardo

    (Iran)

  • Radrik, Dani

    (Iran)

Abstract

In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities, because such discoveries can be easily imitated. Two failures of the laissez – faire outcome are being highlighted: there is too little investment and entrepreneurship ex ante, and too much production diversi-fication ex post. Optimal policy consists of counteracting these distortions: to encourage investment in the modern sector ex ante, but to rationalize production ex post. Some informal evidence on the building blocks of the model is provided.

Suggested Citation

  • Mardokhi, Bayazid & Hasman, Rikardo & Radrik, Dani, 2003. "Economic Development as Self – Discovery (in Persian)," The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی Ùˆ بودجه), Institute for Management and Planning studies, vol. 7(6), pages 3-46, March.
    • Handle: RePEc:auv:jipbud:v:7:y:2003:i:6:p:3-46
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