Journal
ECONOMICS LETTERS
Volume 104, Issue 3, Pages 118-121Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2009.04.022
Keywords
Institutions; Transition economics; Rent-seeking
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This paper investigates the role of the institutional environment on economic performance when the state intervenes to correct market failure. Results demonstrate that in the presence of weak institutions rent-seeking plays a crucial role for achieving second best resources allocation. (C) 2009 Elsevier B.V. All rights reserved.
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