Do Rich Countries Choose Better Governments ?

@inproceedings{Azariadis2002DoRC,
  title={Do Rich Countries Choose Better Governments ?},
  author={Costas Azariadis and Amartya Lahiri},
  year={2002}
}
We analyze public investment in social infrastructure using a two-period model in which a government must intermediate all infrastructure investment. Voters choose a government from two alternative types, high quality and low quality. A high quality government obtains higher returns on infrastructure but also demands a bigger consumption payoff for intermediating investment, implying higher taxes for the voting public. We find that these intermediation costs cause threshold effects in the… CONTINUE READING
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