Setting standards: Information accumulation in development

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Journal of Economic Growth, March 1999, vol4, 5-38
To cite or link this document: Acemoglu, Daron Zilibotti, Fabrizio
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa 1997-03-01
dc.identifier.citation Journal of Economic Growth, March 1999, vol4, 5-38
dc.description.abstract We propose a model in which economic relations and institutions in advanced and less developed economies differ as these societies have access to different amounts of information. This lack of information makes it hard to give the right incentives to managers and entrepreneurs. We argue that differences in the amount of information arise because of the differences in the scale of activities in rich and poor economies; namely, there is too little repetition of similar activities in poor economies, thus insufficient information to set the appropriate standards for firm performance. Our model predicts a number of institutional and structural transformations as the economy accumulates capital and information.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 212
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.title Setting standards: Information accumulation in development
dc.type info:eu-repo/semantics/workingPaper 2014-06-03T07:13:53Z
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword information
dc.subject.keyword development
dc.subject.keyword agency costs
dc.subject.keyword incentives
dc.subject.keyword relative performance evaluation
dc.subject.keyword risk sharing
dc.subject.keyword sectorial transformations
dc.rights.accessRights info:eu-repo/semantics/openAccess

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