Primeron Reforms in a Second-Best Ambiguous Environment : A Case for Gradualism

A Case for Gradualism

Primeron Reforms in a Second-Best Ambiguous Environment : A Case for Gradualism
Ambiguity, as opposed to uncertainty, reflects lack of sufficient information about distribution and payoffs of infrequent events. Reforms are infrequent events, undertaken in ambiguous second-best environments where bad reform outcomes are feasible. A general case for the gradualist reform strategy is that it may pay to defer some reforms until... READ MORE...

Publication date: March 2002
ISBN 9781451846980
$15.00

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