Volume 7, Issue 6 (3-2003)
JEPR 2003, 7(6): 3-46 |
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Mardokhi B, Hasman R, Radrik D. (2003). Economic Development as Self – Discovery. JEPR. 7(6), 3-46.
URL: http://jpbud.ir/article-1-224-en.html
URL: http://jpbud.ir/article-1-224-en.html
Abstract: (10669 Views)
In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities, because such discoveries can be easily imitated. Two failures of the laissez – faire outcome are being highlighted: there is too little investment and entrepreneurship ex ante, and too much production diversi-fication ex post. Optimal policy consists of counteracting these distortions: to encourage investment in the modern sector ex ante, but to rationalize production ex post. Some informal evidence on the building blocks of the model is provided.
Type of Study: Research |
Received: Feb 01 2012 | ePublished: Mar 15 2003
Received: Feb 01 2012 | ePublished: Mar 15 2003
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