Abstract

https://ssrn.com/abstract=1083391
 
 

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The Problem of Credible Commitment in Reconstruction


Christopher J. Coyne


George Mason University - Department of Economics

Peter J. Boettke


George Mason University - Department of Economics

September 7, 2008

Journal of Institutional Economics, Vol. 5, No. 1, pp. 1-23, 2009

Abstract:     
Reconstruction involves military occupation with the aim of rebuilding and reforming both formal and informal institutions along liberal democratic lines. We contend that successful reconstructions require mechanisms which make reforms credible over the long-run. In the absence of a signal of sustained credible commitment, institutional reforms will not be trusted by the populace resulting in the failure of the broader reconstruction. The incentive, information and epistemic aspects of the credible commitment problem are analyzed. We also consider potential solutions to the problem of credible commitment. Absent such solutions, attempts to "export" institutions via military occupation should be either limited in their scope or curtailed entirely.

Number of Pages in PDF File: 23

Keywords: credible commitment, institutions, military occupation, reconstruction, reform

JEL Classification: B52, D74, P41


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Date posted: January 16, 2008 ; Last revised: October 25, 2010

Suggested Citation

Coyne, Christopher J. and Boettke, Peter J., The Problem of Credible Commitment in Reconstruction (September 7, 2008). Journal of Institutional Economics, Vol. 5, No. 1, pp. 1-23, 2009. Available at SSRN: https://ssrn.com/abstract=1083391

Contact Information

Christopher J. Coyne (Contact Author)
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
Peter J. Boettke
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)
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