Growth and Insecure Private Property of Capital

Bertrand Crettez (), Naila Hayek and Lisa Morhaim
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Bertrand Crettez: Université Panthéon-Assas, Paris II
Naila Hayek: Université Panthéon-Assas, Paris II
Lisa Morhaim: Université Panthéon-Assas, Paris II

Dynamic Games and Applications, 2019, vol. 9, issue 4, No 8, 1042-1060

Abstract: Abstract This paper revisits Strulik’s model of growth with insecure property rights. In this model, different social groups devote some effort to control a share of the capital stock. We show that a slight variation in the modeling of strategic interactions results in the coexistence of savings and efforts to control a share of the capital stock. We also study the effects of a change in the number of social groups on growth. We also show that an increase in social fractionalization may lead to less effort devoted to control capital and to a higher growth rate.

Keywords: Dynamic games; Insecure private property of capital; Growth (search for similar items in EconPapers)
JEL-codes: C D D72 E O (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s13235-018-00294-9

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