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Pillars of ProsperityThe Political Economics of Development Clusters$
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Timothy Besley and Torsten Persson

Print publication date: 2011

Print ISBN-13: 9780691152684

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691152684.001.0001

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State Spaces

State Spaces

(p.215) Chapter 5 State Spaces
Pillars of Prosperity

Timothy Besley

Torsten Persson

Princeton University Press

This chapter summarizes the lessons from Chapter 4 in the form of a function that describes endogenous political turnover. This preliminary allows us to study equilibrium investments in fiscal and legal capacity in the comprehensive core model. Section 5.2 develops the model by adding private capital formation along the same lines as in Section 3.2.3, but in a setting where the risk of civil war affects the expected return to private investment. Section 5.3 discusses the empirical implications of our comprehensive framework and how it can be used to interpret observed patterns in the data. Section 5.4 puts the typologies of investment states and violence states together into an Anna Karenina principle of development, an allusion to the Tolstoy quote at the beginning of the chapter. It also briefly revisits the possibility of a predatory state and observes how this enriches our understanding of nonprosperity.

Keywords:   political turnover, state capacity, civil war, investment, political violence, economic development

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