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Detail
ArtikelExiting a Lawless State  
Oleh: Hoff, Karla ; Stiglitz, Joseph E
Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 118 no. 531 (Aug. 2008), page 1474.
Topik: Exit; Lawless State; Coordination; Economy
Fulltext: 1474.pdf (761.42KB)
Ketersediaan
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: EE28.29
    • Non-tandon: 1 (dapat dipinjam: 0)
    • Tandon: tidak ada
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Isi artikelAn earlier paper showed that an economy could be trapped in an equilibrium state in which the absence of the rule of law led to asset-stripping and the prevalence of asset-stripping led to the absence of a demand for the rule of law, highlighting a coordination failure. This article looks more carefully at the dynamics of transition from a non-rule-of-law state. The article identifies a commitment problem as the critical feature inhibiting the transition: the inability, under a rule of law, to forgive theft. This can lead to the perpetuation of the non-rule-of-law state, even when it might seem that the alternative is Pareto-improving.
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