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ContributionofPublicChoiceLiterature…
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everysociety,regardlessofitshistoricaldevelopmentorgeographicallocation.
Publicchoicetheoryisadynamicresearchprogramme,withatendencytowards
contextualexpansionandthedeepeningoftheanalysisoftheareasitlooksat.
Thenewtrendsinthedevelopmentofthisresearchprogrammewillrespondtothe
changingsocial,politicalandeconomicparametersinthefuture.
Publicchoiceresearchisalsorelevanttopolicy–forexample,inanalysing
appropriateinstitutionalarrangementstopromoteeconomicgrowth,measuring
theeffectivenessofdemocraticpoliticalmechanisms(ortheirinefficiency),iden-
tifyingwaystoincreasetheefficiencyofcollectivechoicemechanisms.Many
issuesrelatedtoresearchinthisareahaveyettobeanswered.Developmentsin
theglobaleconomicandinstitutionalenvironmentinrecentyearshaveraisednew
questionsandthereformulationofunsolvedproblemsmaycontributetofinding
newsolutionstothem.Verificationofexistingpublicchoicemodelswilllaythe
groundworkforpublicchoicetheorytohaveagreaterinfluenceonthereformof
institutionalarrangementsinsociety.Thiswouldincreasetheefficiencyofthe
existinginstitutionalstructureandeventuallyleadtothecreationofnewinstitu-
tionsandcollectivechoicemechanisms.
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