@article{oai:nagoya.repo.nii.ac.jp:00019353,
 author = {CAI, Dapeng},
 issue = {4},
 journal = {経済科学},
 month = {Mar},
 note = {This note examines t he welfare impacts of interactions between policymakers and firms under three models of governments, namely, the invisible hand, the helping hand, and the grabbing hand. We show that under a benevolent grabbing hand government, social welfare can be higher than that of an invisible hand government, whereas when the policymakers are sufficiently avaricious, social welfare under a grabbing hand government can be lower than that of an invisible hand government. We also predict that the economies that are more vulnerable to a welfare-worsening political economy trap are those where the policymakers are less driven by welfare concerns.},
 pages = {53--60},
 title = {The Invisible Hand, the Helping Hand, and the Grabbing Hand: A Welfare Analysis},
 volume = {62},
 year = {2015}
}