Rent-Seeking and Political Tenure: First Estimates

Patrick McNutt

Public Choice, 1997, vol. 92, issue 3-4, 369-85

Abstract: This paper computes a measure of rent-seeking based on costs of tenure. Within a political tenure type model, a new incumbency variable is introduced and a variant to existing datasets is presented. Consistent ML rent-seeking estimates are computed for the author's sample of OECD democracies. The statistical advances in limited dependent variable models, in particular the decomposition of the Tobit estimates, enabled the author to compute rent-seeking estimates as costs of tenure the Tobit partial derivatives and to compute the impact of explanatory variables on the probability of being above the limit which he interprets as the probability of tenure. Copyright 1997 by Kluwer Academic Publishers

Date: 1997
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