policy reform, political economy of

Sharun W. Mukand
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Policymakers face political constraints that make enacting reform difficult. Since the late 1980s economists have developed a framework to analyse the deeper political underpinnings of policy inefficiency. This article develops a framework for delineating the key findings of this literature. It then briefly sketches out the role of institutions in facilitating policy reform.
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How to cite this article

Mukand, Sharun W. "policy reform, political economy of." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 25 July 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_P000363> doi:10.1057/9780230226203.1295

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