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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19134| Title: | Information, coordination, and the industrialization of countries |
| Keywords: | C72 F21 D82 O14 O12 C79 ddc:330 information coordination industrialization development global games equilibrium refinements big push Industrialisierung Investition Nichtkooperatives Spiel Investitionspolitik Entwicklungspolitik Gleichgewicht |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19134 |
| Other Identifiers: | http://hdl.handle.net/10419/19134 ppn:510022723 |
| Appears in Collections: | EconStor |
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