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《China Economic Quarterly》 2006-01
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The Political Economy of Repetitive Investment:A Model

PEIHONG YANG(Unirule Institute of Economics)  
In this paper, we define repetitive investment as those led by the government. From this perspective, we analyze investment under symmetric and asymmetric information with the existence of rent-seeking activities. We find that rent-seeking leads to a lower investment level compared with social optimum. We also find a situation in which investment is below the optimal level but repetitive investment still exists.
【CateGory Index】: F224
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2 TAN Qiu-cheng (Rural Development Institute Chinese Academy of Social Sciences,Beijing 100732,China);Eco-compensation Standard and Mechanism[J];China Population Resources and Environment;2009-06
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1 Lü Zheng Cao Jianhai·;(1)Does Competition Always Produce Efficiency? Also on the Theoretical Basis of Excessive Competition[J];SOCIAL SCIENCES IN CHINA;2000-06
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