Economic Development as Self – Discovery (in Persian)

Bayazid Mardokhi, Rikardo Hasman and Dani Radrik
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Bayazid Mardokhi: Iran
Rikardo Hasman: Iran
Dani Radrik: Iran

The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی و بودجه), 2003, vol. 7, issue 6, 3-46

Abstract: In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities, because such discoveries can be easily imitated. Two failures of the laissez – faire outcome are being highlighted: there is too little investment and entrepreneurship ex ante, and too much production diversi-fication ex post. Optimal policy consists of counteracting these distortions: to encourage investment in the modern sector ex ante, but to rationalize production ex post. Some informal evidence on the building blocks of the model is provided.

Date: 2003
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