Rent extraction by capitalists

Markus Brueckner

doi:10.1016/j.ejpoleco.2017.03.001

Rent extraction by capitalists

Markus Brueckner

Research output: Contribution to journal › Article › peer-review

4 Citations (Scopus)

Abstract

Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970–2010, panel model estimates show that: (i) the average capital income share significantly exceeds the average capital output elasticity; (ii) the difference between the average capital income share and the average capital output elasticity has increased over time; (iii) in democracies the average capital income share is not significantly different from the average capital output elasticity. The findings suggest that there exists more rent extraction by capitalists in autocracies and anocracies than in democracies.

Original language	English
Pages (from-to)	157-170
Number of pages	14
Journal	European Journal of Political Economy
Volume	50
DOIs	https://doi.org/10.1016/j.ejpoleco.2017.03.001
Publication status	Published - Dec 2017

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title = "Rent extraction by capitalists",

abstract = "Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970–2010, panel model estimates show that: (i) the average capital income share significantly exceeds the average capital output elasticity; (ii) the difference between the average capital income share and the average capital output elasticity has increased over time; (iii) in democracies the average capital income share is not significantly different from the average capital output elasticity. The findings suggest that there exists more rent extraction by capitalists in autocracies and anocracies than in democracies.",

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AB - Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970–2010, panel model estimates show that: (i) the average capital income share significantly exceeds the average capital output elasticity; (ii) the difference between the average capital income share and the average capital output elasticity has increased over time; (iii) in democracies the average capital income share is not significantly different from the average capital output elasticity. The findings suggest that there exists more rent extraction by capitalists in autocracies and anocracies than in democracies.

KW - Capital income share

KW - Capital output elasticity

KW - Rent extraction

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DO - 10.1016/j.ejpoleco.2017.03.001

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JO - European Journal of Political Economy

JF - European Journal of Political Economy

ER -

Rent extraction by capitalists

Abstract

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