The anatomy of government failure
Author
Abstract
Suggested Citation
DOI: 10.1007/s11127-015-0262-y
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Brennan,Geoffrey & Lomasky,Loren (ed.), 1997. "Democracy and Decision," Cambridge Books, Cambridge University Press, number 9780521585248, September.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009.
"Varieties of Crises and Their Dates,"
Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly,
Princeton University Press.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
- Reinhart, Carmen, 2009. "The Second Great Contraction," MPRA Paper 21485, University Library of Munich, Germany.
- Tideman, T Nicolaus & Tullock, Gordon, 1976. "A New and Superior Process for Making Social Choices," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1145-1159, December.
- Roger B. Myerson, 2008.
"Perspectives on Mechanism Design in Economic Theory,"
American Economic Review, American Economic Association, vol. 98(3), pages 586-603, June.
- Myerson, Roger B., 2007. "Perspectives on Mechanism Design in Economic Theory," Nobel Prize in Economics documents 2007-6, Nobel Prize Committee.
- John J. Donohue III & Steven D. Levitt, 2001.
"The Impact of Legalized Abortion on Crime,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(2), pages 379-420.
- Donohue, John J. & Levitt, Steven D., 2000. "The Impact of Legalized Abortion on Crime," Berkeley Olin Program in Law & Economics, Working Paper Series qt00p599hk, Berkeley Olin Program in Law & Economics.
- John Donohue & Steven Levitt, 2000. "The Impact of Legalized Abortion on Crime," NBER Working Papers 8004, National Bureau of Economic Research, Inc.
- Martinez-Vazquez,Jorge & Winer,Stanley L. (ed.), 2014. "Coercion and Social Welfare in Public Finance," Cambridge Books, Cambridge University Press, number 9781107636897, September.
- Chipman, John S & Moore, James C, 1978. "The New Welfare Economics, 1939-1974," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(3), pages 547-584, October.
- Munger, Michael & Schaller, Thomas, 1997. "The Prohibition-Repeal Amendments: A Natural Experiment in Interest Group Influence," Public Choice, Springer, vol. 90(1-4), pages 139-163, March.
- Hugo Eyzaguirre & Tawni Hunt Ferrarini & J. Brian O’Roark, 2014. "Textbook Confessions: Government Failure," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 29(Fall 2014), pages 159-175.
- Lupia,Arthur & McCubbins,Mathew D., 1998. "The Democratic Dilemma," Cambridge Books, Cambridge University Press, number 9780521584487, September.
- Peter Bernholz, 2003. "Monetary Regimes and Inflation," Books, Edward Elgar Publishing, number 2873.
- Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
- Reinhart, Karmen & Rogoff, Kenneth, 2009.
""This time is different": panorama of eight centuries of financial crises,"
Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," CEMA Working Papers 595, China Economics and Management Academy, Central University of Finance and Economics.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," NBER Working Papers 13882, National Bureau of Economic Research, Inc.
- Peter Boettke & Christopher Coyne & Peter Leeson, 2007. "Saving government failure theory from itself: recasting political economy from an Austrian perspective," Constitutional Political Economy, Springer, vol. 18(2), pages 127-143, June.
- Theodore Groves, 1979. "Efficient Collective Choice when Compensation is Possible," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(2), pages 227-241.
- Ricardo Guzmán & Michael Munger, 2014. "Euvoluntariness and just market exchange: moral dilemmas from Locke’s Venditio," Public Choice, Springer, vol. 158(1), pages 39-49, January.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-1348, December.
- Lupia,Arthur & McCubbins,Mathew D., 1998. "The Democratic Dilemma," Cambridge Books, Cambridge University Press, number 9780521585934, September.
- Theodore Groves & John Ledyard, 1977.
"Some limitations of demand revelaing processes,"
Public Choice, Springer, vol. 29(2), pages 107-124, March.
- Theodore Groves & John O. Ledyard, 1976. "Some Limitations of Demand Revealing Processes," Discussion Papers 219, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Buchanan, James M., 1979. "Cost and Choice," University of Chicago Press Economics Books, University of Chicago Press, number 9780226078182, April.
- Knut Wicksell, 1958. "A New Principle of Just Taxation," International Economic Association Series, in: Richard A. Musgrave & Alan T. Peacock (ed.), Classics in the Theory of Public Finance, pages 72-118, Palgrave Macmillan.
- Selgin, George A & White, Lawrence H, 1987.
"The Evaluation of a Free Banking System,"
Economic Inquiry, Western Economic Association International, vol. 25(3), pages 439-457, July.
- Selgin, George A. & White, Lawrence H., 1985. "The Evolution of a Free Banking System," Working Papers 85-38, C.V. Starr Center for Applied Economics, New York University.
- Dixit, Avinash K & Stiglitz, Joseph E, 1977.
"Monopolistic Competition and Optimum Product Diversity,"
American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
- Dixit, Avinash K. & Stiglitz, Joseph E., 1975. "Monopolistic Competition And Optimum Product Diversity," Economic Research Papers 268957, University of Warwick - Department of Economics.
- Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2014.
"This Time is Different: A Panoramic View of Eight Centuries of Financial Crises,"
Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," NBER Working Papers 13882, National Bureau of Economic Research, Inc.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," CEMA Working Papers 595, China Economics and Management Academy, Central University of Finance and Economics.
- Roger E. Backhouse & Steven G. Medema, 2012. "Economists and the analysis of government failure: fallacies in the Chicago and Virginia interpretations of Cambridge welfare economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(4), pages 981-994.
- Myerson, Roger B, 1979.
"Incentive Compatibility and the Bargaining Problem,"
Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
- Roger B. Myerson, 1977. "Incentive Compatability and the Bargaining Problem," Discussion Papers 284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- North, Douglass C, 1994.
"Economic Performance through Time,"
American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
- North, Douglass C., 1993. "Economic Performance through Time," Nobel Prize in Economics documents 1993-2, Nobel Prize Committee.
- Dale Whittington & Duncan MacRae, 1986. "The issue of standing in cost-benefit analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 5(4), pages 665-682.
- R. H. Coase, 2013.
"The Problem of Social Cost,"
Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
- Ronald H. Coase, 1960. "The Problem of Social Cost," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 5, pages 87-137, Palgrave Macmillan.
- Wilfred Dolfsma, 2013. "Government Failure," Books, Edward Elgar Publishing, number 15372.
- Joseph E. Stiglitz, 1991. "The Invisible Hand and Modern Welfare Economics," NBER Working Papers 3641, National Bureau of Economic Research, Inc.
- Shepsle, Kenneth A. & Weingast, Barry R., 1984. "Political Solutions to Market Problems," American Political Science Review, Cambridge University Press, vol. 78(2), pages 417-434, June.
- Sen, Amartya K, 1977. "On Weights and Measures: Informational Constraints in Social Welfare Analysis," Econometrica, Econometric Society, vol. 45(7), pages 1539-1572, October.
- Saari,Donald G., 2008. "Disposing Dictators, Demystifying Voting Paradoxes," Cambridge Books, Cambridge University Press, number 9780521516051, September.
- Tawni H. Ferrarini & James D. Gwartney & John S. Morton, 2011. "Advanced Placement Economics: The Good, the Bad, and the Ugly," Econ Journal Watch, Econ Journal Watch, vol. 8(1), pages 57-75, January.
- Richard E. Wagner, 1985. "Normative and Positive Foundations of Tax Reform," Cato Journal, Cato Journal, Cato Institute, vol. 5(2), pages 385-406, Fall.
- Bryan Caplan, 2007. "Introduction to The Myth of the Rational Voter: Why Democracies Choose Bad Policies," Introductory Chapters, in: The Myth of the Rational Voter: Why Democracies Choose Bad Policies, Princeton University Press.
- Thomas Romer & Howard Rosenthal, 1978. "Political resource allocation, controlled agendas, and the status quo," Public Choice, Springer, vol. 33(4), pages 27-43, December.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65(2), pages 135-135.
- Buchanan, James M, 1987.
"The Constitution of Economic Policy,"
American Economic Review, American Economic Association, vol. 77(3), pages 243-250, June.
- Buchanan, James M., 1986. "The Constitution of Economic Policy," Nobel Prize in Economics documents 1986-1, Nobel Prize Committee.
- Thomas Romer & Howard Rosenthal, 1979. "Bureaucrats Versus Voters: On the Political Economy of Resource Allocation by Direct Democracy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 93(4), pages 563-587.
- Saari,Donald G., 2008. "Disposing Dictators, Demystifying Voting Paradoxes," Cambridge Books, Cambridge University Press, number 9780521731607, September.
- North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(4), pages 803-832, December.
- Zeckhauser, Richard, 1973. "Voting Systems, Honest Preferences and Pareto Optimality," American Political Science Review, Cambridge University Press, vol. 67(3), pages 934-946, September.
- Ralph L. Keeney & Craig W. Kirkwood, 1975. "Group Decision Making Using Cardinal Social Welfare Functions," Management Science, INFORMS, vol. 22(4), pages 430-437, December.
- Martinez-Vazquez,Jorge & Winer,Stanley L. (ed.), 2014. "Coercion and Social Welfare in Public Finance," Cambridge Books, Cambridge University Press, number 9781107052789, September.
- Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753, September.
- Francis M. Bator, 1958. "The Anatomy of Market Failure," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 72(3), pages 351-379.
- Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(3), pages 371-400.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Mause, Karsten, 2019.
"Governance im Politikfeld Wirtschaftspolitik [Governance in the Field of Economic Policy],"
MPRA Paper
96468, University Library of Munich, Germany.
- Mause, Karsten, 2019. "Governance im Politikfeld Wirtschaftspolitik," EconStor Preprints 204517, ZBW - Leibniz Information Centre for Economics.
- Giuseppe Di Vita, 2023. "The economic impact of legislative complexity and corruption: A cross‐country analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 1801-1825, April.
- Glenn Furton & Adam Martin, 2019. "Beyond market failure and government failure," Public Choice, Springer, vol. 178(1), pages 197-216, January.
- Bjørnskov, Christian, 2020. "Economic Freedom and the CO2 Kuznets Curve," Working Paper Series 1331, Research Institute of Industrial Economics.
- Daniel Albalate & Germà Bel, 2018. "“Do government formation deadlocks damage economic growth? Evidence from history’s longest period of political deadlock”," IREA Working Papers 201817, University of Barcelona, Research Institute of Applied Economics, revised Jul 2018.
- Mause, Karsten, 2018. "Ökonomie und Staat," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 211-221.
- Vita, Giuseppe Di, 2021. "Political corruption and legislative complexity: Two sides of same coin?," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 136-147.
- Bjørnskov, Christian, 2024. "Economic freedom and the greenhouse gas Kuznets curve," European Journal of Political Economy, Elsevier, vol. 82(C).
- Istiak Ahmad & Fahad Alqurashi & Ehab Abozinadah & Rashid Mehmood, 2022. "Deep Journalism and DeepJournal V1.0: A Data-Driven Deep Learning Approach to Discover Parameters for Transportation," Sustainability, MDPI, vol. 14(9), pages 1-72, May.
- Pim Derwort & Nicolas Jager & Jens Newig, 2019. "Towards productive functions? A systematic review of institutional failure, its causes and consequences," Policy Sciences, Springer;Society of Policy Sciences, vol. 52(2), pages 281-298, June.
- Rafael Galvão de Almeida, 2019. "How economics became an interventionist science (and how it ceased to be)," Textos para Discussão Cedeplar-UFMG 612, Cedeplar, Universidade Federal de Minas Gerais.
- Kärnä, Anders & Karlsson, Johan & Engberg, Erik & Svensson, Peter, 2020. "Political Failure: A Missing Piece in Innovation Policy Analysis," Working Paper Series 1334, Research Institute of Industrial Economics, revised 21 Apr 2022.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Brian C. Albrecht & Joshua R. Hendrickson & Alexander William Salter, 2022. "Evolution, uncertainty, and the asymptotic efficiency of policy," Public Choice, Springer, vol. 192(1), pages 169-188, July.
- Steven G. Medema, 2020. "The Coase Theorem at Sixty," Journal of Economic Literature, American Economic Association, vol. 58(4), pages 1045-1128, December.
- Schnellenbach, Jan & Schubert, Christian, 2015.
"Behavioral political economy: A survey,"
European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
- Jan Schnellenbach & Christian Schubert, 2014. "Behavioral Political Economy: A Survey," CESifo Working Paper Series 4988, CESifo.
- Benoît Le Maux, 2009.
"Governmental behavior in representative democracy: a synthesis of the theoretical literature,"
Public Choice, Springer, vol. 141(3), pages 447-465, December.
- Benoît Le Maux, 2009. "Governmental behavior in representative democracy: a synthesis of the theoretical literature," Post-Print halshs-00418370, HAL.
- Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2009.
"Toward a Theory of Public Entrepreneurship,"
Working Papers
09-0106, University of Illinois at Urbana-Champaign, College of Business.
- Peter G. Klein & Joseph T. Mahoney & Anita McGahan & Christos N. Pitelis, 2010. "Toward a Theory of Public Entrepreneurship," DRUID Working Papers 10-07, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Roger D. Congleton, 2019. "Fiscal Bargaining and the Implicit Fiscal Constitutions of Liberal Democracies: A Public Choice Perspective," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 15(2), pages 175-198, December.
- Bjørnskov, Christian & Schröder, Philipp J.H., 2013.
"Are debt repayment incentives undermined by foreign aid?,"
Journal of Comparative Economics, Elsevier, vol. 41(4), pages 1073-1091.
- Bjørnskov, Christian & Schröder, Philipp J.H., 2010. "Are Debt Repayment Incentives Undermined by Foreign Aid?," Working Papers 10-20, University of Aarhus, Aarhus School of Business, Department of Economics.
- John Matsusaka, 2005. "The eclipse of legislatures: Direct democracy in the 21st century," Public Choice, Springer, vol. 124(1), pages 157-177, July.
- Glenn Furton & Adam Martin, 2019. "Beyond market failure and government failure," Public Choice, Springer, vol. 178(1), pages 197-216, January.
- Kenneth Mackenzie, 1999. "Diseño institucional y política pública: una perspectiva microeconómica," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 1(1), pages 17-58, July-dece.
- Persson, Torsten & Tabellini, Guido, 2002.
"Political economics and public finance,"
Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 24, pages 1549-1659,
Elsevier.
- Torsten Persson & Guido Tabellini, "undated". "Political Economics and Public Finance," Working Papers 149, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Torsten Persson & Guido Tabellini, 1999. "Political Economics and Public Finance," NBER Working Papers 7097, National Bureau of Economic Research, Inc.
- Persson, Torsten & Tabellini, Guido, 1999. "Political Economics and Public Finance," CEPR Discussion Papers 2235, C.E.P.R. Discussion Papers.
- Michael Tomz & Mark L.J. Wright, 2013.
"Empirical Research on Sovereign Debt and Default,"
Annual Review of Economics, Annual Reviews, vol. 5(1), pages 247-272, May.
- Michael Tomz & Mark L. J. Wright, 2012. "Empirical research on sovereign debt and default," Working Paper Series WP-2012-06, Federal Reserve Bank of Chicago.
- Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," NBER Working Papers 18855, National Bureau of Economic Research, Inc.
- Bruno S. Frey & Alois Stutzer, "undated".
"The Role of Direct Democracy and Federalism in Local Power,"
IEW - Working Papers
209, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2004. "The Role of Direct Democracy and Federalism in Local Power," CREMA Working Paper Series 2004-25, Center for Research in Economics, Management and the Arts (CREMA).
- Bjørnskov, Christian, 2016.
"Economic freedom and economic crises,"
European Journal of Political Economy, Elsevier, vol. 45(S), pages 11-23.
- Bjørnskov, Christian, 2015. "Economic Freedom and Economic Crisis," Working Paper Series 1056, Research Institute of Industrial Economics.
- Stanley L. Winer, 2016.
"The Political Economy of Taxation: Power, Structure, Redistribution,"
Carleton Economic Papers
16-15, Carleton University, Department of Economics.
- Stanley L. Winer, 2016. "The Political Economy of Taxation: Power, Structure, Redistribution," CESifo Working Paper Series 6252, CESifo.
- Matthew R DiGiuseppe & Colin M Barry & Richard W Frank, 2012. "Good for the money," Journal of Peace Research, Peace Research Institute Oslo, vol. 49(3), pages 391-405, May.
- Lucia Rossel Flores & Martijn Huysmans & Joras Ferwerda, 2024. "The political business cycle of tax reforms," Public Choice, Springer, vol. 200(1), pages 65-88, July.
- Jankovic Ivan & Block Walter, 2019. "Private Property Rights, Government Interventionism and Welfare Economics," Review of Economic Perspectives, Sciendo, vol. 19(4), pages 365-397, December.
- Karaman, K. Kıvanç & Pamuk, Şevket & Yıldırım-Karaman, Seçil, 2020.
"Money and monetary stability in Europe, 1300–1914,"
Journal of Monetary Economics, Elsevier, vol. 115(C), pages 279-300.
- Pamuk, Sevket & Karaman, Kivanc & Yıldırım-Karaman, Seçil, 2018. "Money and Monetary Stability in Europe, 1300-1914," CEPR Discussion Papers 12583, C.E.P.R. Discussion Papers.
- Kamil Kivanc Karaman & Sevket Pamuk & Secil Yildirim, 2018. "Money and Monetary Stability in Europe, 1300-1914," Working Papers 2018/05, Bogazici University, Department of Economics.
- Michael Bradley & Elisabeth de Fontenay & Irving Arturo de Lira Salvatierra & Mitu Gulati, 2018. "Pricing Sovereign Debt: Foreign versus Local Parameters," European Financial Management, European Financial Management Association, vol. 24(2), pages 261-297, March.
More about this item
Keywords
Market failure; Government failure; Competitive equilibrium theory; Collective choice mechanisms; A10; A12; D02; D6; H1;All these keywords.
JEL classification:
- A10 - General Economics and Teaching - - General Economics - - - General
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
- D6 - Microeconomics - - Welfare Economics
- H1 - Public Economics - - Structure and Scope of Government
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:164:y:2015:i:1:p:1-42. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.