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The Soft Budget Constraint — The Emergence, Persistence and Logic of an Institution 87 Abstract: Ein wichtiges Ziel der

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Abstract: Ein wichtiges Ziel der Römischen Verträge ist es

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The Soft Budget Constraint — The Emergence, Persistence and Logic of an Institution 87 Abstract: Ein wichtiges Ziel derThis is a story of the soft budget constraint. It seeks an answer to a paradox: the prevalence of the soft budget constraint in spite of the tremendous inefficiencies that it gives rise to, and its persistence in spite of reform of the system of which it is an integral part. The story aims at increasing our understanding of why the phenomenon exists. By studying the case of state in Tanzania before, during and after socialism, an explanation of the

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