Economic Reforms and Political Constraints on the Time Inconsistency of Gradual Sequencing
This paper presents a model portraying a country in a political deadlock about reform proposals that hurt strongly organized interest groups. We show that, under sorne circumstances (no ability to precommit, veto power by interest groups), only far reaching reforms (even if quite costly) have hope of success. The model intends to explain why in recent years several Latin American countries have gone for radical reform.
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- Mathias Dewatripont & Gérard Roland, 1995.
"The design of reform packages under uncertainty,"
ULB Institutional Repository
2013/9607, ULB -- Universite Libre de Bruxelles.
- Michael Mussa, 1982. "Government Policy and the Adjustment Process," NBER Chapters, in: Import Competition and Response, pages 73-122 National Bureau of Economic Research, Inc.
- Rodrik, Dani, 1989.
"Promises, Promises: Credible Policy Reform via Signalling,"
Royal Economic Society, vol. 99(397), pages 756-772, September.
- Dani Rodrik, 1988. "Promises, Promises: Credible Policy Reform via Signaling," NBER Working Papers 2600, National Bureau of Economic Research, Inc.
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