5.4. Career concerns

Course video 28 of 34

In this lecture we discuss external and internal agency problems, i.e. relations between government (as an agent) and society (the principal) and between rank-and-file bureaucrats (the agents) and their bosses (the principals). We discuss ex ante and ex post accountability system in an external agency. Moving to the internal agency problem, we discuss how to create performance incentives within the bureaucracy including vertical monitoring and career concerns. The final episode of the lecture deals with selected topics of the economics of corruption.

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