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Political competition in a model of economic growth: Some theoretical results (*)

Author

Listed:
  • Richard T. Boylan

    (Olin School of Business, One Brookings Drive, Washington University, St. Louis, MO 63130, USA)

  • Richard D. McKelvey

    (California Institute of Technology, Division of Humanities and Social Sciences, Pasadena, CA 91125, USA)

  • John Ledyard

    (California Institute of Technology, Division of Humanities and Social Sciences, Pasadena, CA 91125, USA)

Abstract

We analyze the role of political competition on the type of economic policies that are selected in a one sector model of economic growth. We identify conditions under which neoclassical optimal growth plans occur, and conditions in which political business cycles occur. We find that the ability commit to multi-period economic policy leads to less political stability of economic plans.

Suggested Citation

  • Richard T. Boylan & Richard D. McKelvey & John Ledyard, 1996. "Political competition in a model of economic growth: Some theoretical results (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(2), pages 191-205.
    • Handle: RePEc:spr:joecth:v:7:y:1996:i:2:p:191-205
    Note: Received: November 2, 1994
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    Cited by:

    1. Christian Roessler & Sandro Shelegia & Bruno Strulovici, 2018. "Collective Commitment," Journal of Political Economy, University of Chicago Press, vol. 126(1), pages 347-380.
    2. Mikhail Pakhnin, 2021. "Collective Choice with Heterogeneous Time Preferences," CESifo Working Paper Series 9141, CESifo.
    3. Battaglini, Marco & Nunnari, Salvatore & Palfrey, Thomas R., 2012. "Legislative Bargaining and the Dynamics of Public Investment," American Political Science Review, Cambridge University Press, vol. 106(2), pages 407-429, May.
    4. Borissov, Kirill & Pakhnin, Mikhail & Puppe, Clemens, 2017. "On discounting and voting in a simple growth model," European Economic Review, Elsevier, vol. 94(C), pages 185-204.
    5. Christian Roessler & Sandro Shelegia & Bruno Strulovici, 2018. "Collective Commitment," Journal of Political Economy, University of Chicago Press, vol. 126(1), pages 347-380.

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