Incentives and Static and Dynamic Gains from Market Reform in an Emerging Profits Model
This paper develops a dynamic model to account for the enhanced incentive effects that result from market reform in the form of a move toward private property rights and competitive markets. The process of reform is captured through an emerging profits function which depends on effective prices and incentives to work harder. Static and dynamic output gains from reform are also derived through increases in total factor productivity and induced capital accumulation. The relative success of any...[Show more]
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