Policy Reform and Institutional Uncertainty: The Case of Nicaragua

Autor:	Silvio Borner, Aymo Brunetti and, Beatrice Weder
Rok vydání:	1995
Předmět:	Economics and Econometrics Government Arts and Humanities (miscellaneous) Property rights Obstacle Economics Survey result Economic system Investment (macroeconomics) Sustainable growth rate
Zdroj:	Kyklos. 48:43-64
ISSN:	0023-5962
DOI:	10.1111/j.1467-6435.1995.tb02314.x
Popis:	This paper argues that an unpredictable regulatory environment can be a major obstacle to the success of policy reforms. The case of Nicaragua is emblematic of the failure of reform events in LDCs because the economy was successfully stabilized but investment is insufficient to achieve sustainable growth. The authors' diagnosis for this failure is the institutional instability caused by arbitrary government especially in the domain of property rights. Based on the responses to a questionnaire, they attempt to quantify the size of this problem. The survey results show that institutional instability in this country is very high, which leads to an overall reluctance to invest. Copyright 1995 by WWZ and Helbing & Lichtenhahn Verlag AG
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::7f1e6ca6d600fda9a64645217f2a9789 https://doi.org/10.1111/j.1467-6435.1995.tb02314.x Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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