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An Economic Theory of Leadership Turnover

  • Maria Gallego
  • Carolyn Pitchik

In an infinite horizon model, a leader of a group of citizens exerts effort in each period to maintain a public good that enhances the profits of a group of kingmakers. In each period, the kingmakers decide whether to overthrow the leader so as to have a chance of becoming the leader. Consistent with the empirical literature, we find that (1) leadership turnover occurs when the kingmakers\\' expected earnings are low; (2) leadership turnover declines with duration in office; (3) leadership turnover declines as the technology for providing the public good improves; (4) leadership turnover increases as the number of kingmakers increases.

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File URL: http://www.economics.utoronto.ca/public/workingPapers/UT-ECIPA-PITCHIK-99-01.pdf
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number pitchik-99-01.

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Length: 35 pages
Date of creation: 09 Sep 1999
Date of revision:
Handle: RePEc:tor:tecipa:pitchik-99-01
Contact details of provider: Postal: 150 St. George Street, Toronto, Ontario
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  1. repec:cup:cbooks:9780521583299 is not listed on IDEAS
  2. Green, Edward J & Porter, Robert H, 1984. "Noncooperative Collusion under Imperfect Price Information," Econometrica, Econometric Society, vol. 52(1), pages 87-100, January.
  3. Acemoglu, Daron & Robinson, James A, 1999. "A Theory of Political Transitions," CEPR Discussion Papers 2277, C.E.P.R. Discussion Papers.
  4. Alesina, Alberto, et al, 1996. " Political Instability and Economic Growth," Journal of Economic Growth, Springer, vol. 1(2), pages 189-211, June.
  5. Joshua Greene & Delano Villanueva, 1991. "Private Investment in Developing Countries: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 33-58, March.
  6. Gallego, M.E., 1997. "Economic Performance and Leadership Accountability: An Econometric Analysis," Working Papers 97-7, Wilfrid Laurier University, Department of Economics.
  7. Martin C. McGuire & Mancur Olson Jr., 1996. "The Economics of Autocracy and Majority Rule: The Invisible Hand and the Use of Force," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 72-96, March.
  8. Roubini, Nouriel & Swagel, Phillip & Ozler, Sule & Alesina, Alberto, 1996. "Political Instability and Economic Growth," Scholarly Articles 4553024, Harvard University Department of Economics.
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