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Intertemporal Syndromes: Redistribution from the Future to the Present.

Abstract:

This chapter focuses on a particular type of policy failure, namely the sacrifice of future income for present gain. All societies and their governments face a trade-off between present and future consumption. Choices become sufficiently erroneous to be seen as a 'syndrome' if governments prioritize current spending to such an extent that future consumption is actually lower than current consumption. Africa's intertemporal syndromes fall into two groups, unsustainable booms in public spending...

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Publisher:
Cambridge University Press
Host title:
The Political Economy of Economic Growth in Africa, 1960-2000
Place of publication:
Cambridge
Publication date:
2007-01-01
ISBN:
978-0521878487
Language:
English
UUID:
uuid:ad7a5a73-13be-4c6a-b707-b2a1f6d16fd6
Local pid:
oai:economics.ouls.ox.ac.uk:14319
Deposit date:
2011-08-16

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