This paper investigates the role of the institutional environment on economic performance when the state intervenes to correct market failure. Results demonstrate that in the presence of weak institutions rent-seeking plays a crucial role for achieving second best resources allocation. (C) 2009 Elsevier B.V. All rights reserved.
Rent-seeking under a weak institutional environment
INFANTE, Davide;Smirnova J.
2009-01-01
Abstract
This paper investigates the role of the institutional environment on economic performance when the state intervenes to correct market failure. Results demonstrate that in the presence of weak institutions rent-seeking plays a crucial role for achieving second best resources allocation. (C) 2009 Elsevier B.V. All rights reserved.File in questo prodotto:
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