Abstract

MCKENZIE, Kenneth J.. INSTITUTIONAL DESIGN AND PUBLIC POLICY. A MICROECONOMIC PERSPECTIVE. Rev.econ.inst. [online]. 1999, vol.1, n.1, pp.17-58. ISSN 0124-5996.

This survey article provides a microeconomic perspective of institutional design and public policy, focusing on the way the relations between voters, politicians and bureaucrats produce efficients outcomes in public policy. It points out the relevance of information and monitoring costs, competition and the structural features of institutions in the search of efficient results, and the way social scientists explain the failures of the political and burocratic markets.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )