Volatile states : institutions, policy, and the performance of American state economies /
Why do American state economies grow at such vastly different rates and manifest such wide differences in living standards? Volatile States identifies the sources of rising living standards by examining the recent economic and fiscal history of the American states. With new insights about the factor...
| Основен автор: | Crain, W. Mark. |
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| Формат: | Електронна книга |
| Език: | English |
| Публикувано: |
Ann Arbor :
University of Michigan Press,
℗♭2003.
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| Предмети: | |
| Онлайн достъп: |
http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=310042 |
| Подобни документи: |
Print version::
Volatile states. |
| Резюме: |
Why do American state economies grow at such vastly different rates and manifest such wide differences in living standards? Volatile States identifies the sources of rising living standards by examining the recent economic and fiscal history of the American states. With new insights about the factors that contribute to state economic success, the book departs from traditional analyses of economic performance in its emphasis on the role of volatility. Volatile States identifies institutions and policies that are key determinants of economic success and illustrates the considerable promise of a mean-variance criterion for assessing state economic performance. The mean-variance perspective amends applications of growth models that rely on the mobility of productive factors keyed to income levels alone. Simply measuring the level of growth in state economies reveals an incomplete and perhaps distorted picture of performance. Taking the volatility of state economies explicitly into account refines the whole notion of "economic success." This book is essential reading for economists, political scientists, and policy-makers who routinely confront questions about the consequences of alternative institutional arrangements and economic policy choices. W. Mark Crain is Professor of Economics and Research Associate, James M. Buchanan Center for Political Economy, George Mason University. |
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| Физически характеристики: |
1 online resource (xiv, 166 pages) : illustrations |
| Формат: |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Библиография: |
Includes bibliographical references (pages 155-161) and index. |
| ISBN: |
9780472024070 0472024078 |