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Rent-seeking government and endogenous takeoff in a Schumpeterian economy
Chu, Angus C.1; Furukawa, Yuichi2; Wang, Xilin3
2022-06
Source PublicationJOURNAL OF MACROECONOMICS
ABS Journal Level2
ISSN0164-0704
Volume72Pages:103399
Abstract

This study explores how the rent-seeking behavior of the government may impede economic development and delay industrialization. Introducing a rent-seeking government to a Schumpeterian growth model that features endogenous takeoff, we find that a more self-interested government engages in more rent-seeking taxation, which delays the economy's transition from pre-industrial stagnation to modern economic growth. Quantitatively, a completely self-interested government could have delayed industrialization, relative to a benevolent government, by about two centuries in the UK.

KeywordRent-seeking Government Endogenous Takeoff Industrialization
DOI10.1016/j.jmacro.2022.103399
URLView the original
Indexed BySSCI
Language英語English
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000819919600002
PublisherELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS
Scopus ID2-s2.0-85124177001
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Citation statistics
Document TypeJournal article
CollectionDEPARTMENT OF ECONOMICS
Corresponding AuthorWang, Xilin
Affiliation1.Department of Economics, University of Macau, Macau, China
2.Faculty of Economics, Aichi University, Nagoya, Japan
3.China Center for Economic Studies, School of Economics, Fudan University, Shanghai, China
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Chu, Angus C.,Furukawa, Yuichi,Wang, Xilin. Rent-seeking government and endogenous takeoff in a Schumpeterian economy[J]. JOURNAL OF MACROECONOMICS, 2022, 72, 103399.
APA Chu, Angus C.., Furukawa, Yuichi., & Wang, Xilin (2022). Rent-seeking government and endogenous takeoff in a Schumpeterian economy. JOURNAL OF MACROECONOMICS, 72, 103399.
MLA Chu, Angus C.,et al."Rent-seeking government and endogenous takeoff in a Schumpeterian economy".JOURNAL OF MACROECONOMICS 72(2022):103399.
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