Back to Search
Start Over
RENT-SEEKING AND CAPITAL ACCUMULATION.
- Source :
-
Economic Inquiry . Apr2012, Vol. 50 Issue 2, p399-417. 19p. 2 Graphs. - Publication Year :
- 2012
-
Abstract
- A general model incorporating rent-seeking activities in the standard neoclassical model of capital accumulation is presented. The welfare of the representative agent is negatively affected by the efficiency of rent-seeking activities. Although intuitive, this result is not obvious because long-run income can be positively affected by more efficient rent-seeking activities. The model is used to provide explanations for some recent experiences in developing countries, including the relative poor performance of economies that experience a move to a more decentralized system and the observed path of total factor productivity (TFP) in countries like Ireland and Venezuela. ( JEL D23, D74, O40, O41, O47) [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00952583
- Volume :
- 50
- Issue :
- 2
- Database :
- Academic Search Index
- Journal :
- Economic Inquiry
- Publication Type :
- Academic Journal
- Accession number :
- 74195623
- Full Text :
- https://doi.org/10.1111/j.1465-7295.2010.00318.x