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File2-page164 - Aghion et al(2003 Openness and Economic...

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Unformatted text preview: Aghion et al. (2003) Openness and Economic Performance P BARRIERS TO ENTRY DD SS SS’ POST-REFORM EQUILIBRIUM ENTRY AND EXIT DUE TO REFORM Y STATE A (PRO-WORKER) POSSIBLY, STATE B (PRO-EMPLOYER) Y <0 ENTRY ENTRY ENTRY ENTRY EXIT EXIT 1 A 1 B CONSTRAINTS TO PRODUCTION PRE-REFORM EQUILIBRIUM STATE A (PRO-WORKER) STATE B (PRO-EMPLOYER) Binding Constraint Binding Constraint Supply function in A Supply function in B Production Production 1 Development Economics, LSE Summer School 2007 1 161 ...
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