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Institutionelle Voraussetzungen marktorientierter Reformen der Wirtschaftspolitik

Authors
Disciplines
  • Economics
  • Law
  • Political Science

Abstract

Institutionelle Voraussetzungen marktorientierter Reformen der Wirtschaftspolitik HOHENHEIMER DISKUSSIONSBEITRÄGE Institutionelle Voraussetzungen marktorientierter Reformen der Wirtschaftspolitik von Hans Pitlik Nr. 240/2004 Institut für Volkswirtschaftslehre (520) Universität Hohenheim, 70593 Stuttgart ISSN 0930-8334 Institutionelle Voraussetzungen marktorientierter Reformen der Wirtschaftspolitik Hans Pitlik Universität Hohenheim Institut für Volkswirtschaftslehre 520D 70593 Stuttgart e-mail: [email protected] Tel. +49711-459-3058 Hohenheimer Diskussionsbeiträge Nr. 240/2004 2 Abstract: Based on game-theoretic reasoning it is commonly believed that the introduction of market- oriented reforms requires a centralized and autonomous government. Stronger institutional constraints on government seem to weaken the decisiveness of state action and therefore constitute a major obstacle to policy reform. These institutional constraints include checks and balances between the various branches of government, an independent judiciary, and more generally, a higher number of effective veto-players. The present paper argues that this line of reasoning overlooks the importance of government credibility for the implementation and the consolidation of policy reforms. Lack of credibility causes higher economic and political costs of reform and thereby reduces the incentives of government to undertake politically risky policy changes. Contrary to conventional wisdom, increasing the number of veto-players in a polity may at the same time increase both government credibility and decisiveness, and may therefore be conducive to reform. This alternative view of the role of institutional constraints is supported by empirical evidence. JEL: D78, P11, P21 3 A. Problemstellung Die Überzeugung, dass institutions matter, dass die Qualität insti

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