Publication:
Investment without Democracy : Ruling-Party Institutionalization and Credible Commitment in Autocracies

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dc.contributor.authorGehlbach, Scott
dc.contributor.authorKeefer, Philip
dc.date.accessioned2012-03-30T07:34:27Z
dc.date.available2012-03-30T07:34:27Z
dc.date.issued2011
dc.description.abstractWhat explains private investment in autocracies, where institutions that discourage expropriation in democracies are absent? We argue that institutionalized ruling parties allow autocrats to make credible commitments to investors. Such parties promote investment by solving collective-action problems among a designated group, who invest with the expectation that the autocrat will not attempt their expropriation. We derive conditions under which autocrats want to create such parties, and we predict that private investment and governance will be stronger in their presence. We illustrate the model by examining the institutionalization of the Chinese Communist Party.en
dc.identifier.citationJournal of Comparative Economics
dc.identifier.issn01475967
dc.identifier.urihttps://hdl.handle.net/10986/5768
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectPolitical Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior D720
dc.subjectCapital
dc.subjectInvestment
dc.subjectCapacity E220
dc.subjectEconomic Development: Financial Markets
dc.subjectSaving and Capital Investment
dc.subjectCorporate Finance and Governance O160
dc.subjectFormal and Informal Sectors
dc.subjectShadow Economy
dc.subjectInstitutional Arrangements O170
dc.subjectSocialist Systems and Transitional Economies : Political Economy
dc.subjectProperty Rights P260
dc.subjectSocialist Institutions and Their Transitions: Financial Economics P340
dc.titleInvestment without Democracy : Ruling-Party Institutionalization and Credible Commitment in Autocraciesen
dc.title.alternativeJournal of Comparative Economicsen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum776
okr.journal.nbpages123-139
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.countryChina
okr.relation.associatedurlhttp://dx.doi.org/10.1016/j.jce.2011.04.002
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1249854&site=ehost-live
okr.relation.associatedurlhttp://www.elsevier.com/wps/find/journaldescription.cws_home/622864/description#description
okr.volume39
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