Rent extraction by capitalists

Markus Brueckner
Authors registered in the RePEc Author Service: Markus Brueckner

European Journal of Political Economy, 2017, vol. 50, issue C, 157-170

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.

Keywords: E0; O4; Capital output elasticity; Capital income share; Rent extraction (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: Rent Extraction by Capitalists (2016)
Working Paper: Rent extraction by capitalists (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:poleco:v:50:y:2017:i:c:p:157-170

DOI: 10.1016/j.ejpoleco.2017.03.001

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