An 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 paper looks more carefully at the dynamics of transition from a non-rule-of-law state. The paper identifies a commitment problem as the critical feature inhibiting the transition:...
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INFORMATION
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2008/02/01
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Document de travail de recherche sur les politiques
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WPS4520
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1
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1
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2010/07/01
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Disclosed
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Exiting a lawless state
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Rule of Law
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