Future Directions for Income Contingent Loan Theory

Glenn Withers ()

Chapter 21 in Income Contingent Loans, 2014, pp 241-247 from Palgrave Macmillan

Abstract: Abstract A focus in contemporary analysis of income contingent loans is to firmly and formally embed it in rational individual choice theory. Special attention is paid to the associated market inadequacy characteristics that imply a need for loan arrangements beyond conventional finance market mechanisms. This chapter suggests that there are also complementary possibilities for additional new directions for income contingent loan theory and research. New directions are argued to be especially promising in positive political economy analyses of the role of voters, politicians, bureaucrats and interest groups, in normative political economy relating to social welfare function optimisation and in ‘grand theory’ relating to the fiscal crisis of the state.

Keywords: Political Economy; Fiscal Crisis; Loan Scheme; Optimal Income Taxation; Drought Relief (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-41320-8_22

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DOI: 10.1057/9781137413208_22

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