The Paradox of Power: Principal-agent problems and administrative capacity in Imperial China (and other absolutist regimes)
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DOI: 10.1016/j.jce.2019.03.002
Abstract: Tax extraction is often low in absolutist regimes. Why are absolutists unable to convert power into revenue? Supported by evidence from Imperial China, we explain this puzzle with a principal-agent model which reveals that absolutists,… read more here.
Keywords: administrative capacity; principal agent; power; absolutist regimes ... See more keywords