Oligarchic land ownership, entrepreneurship, and economic development

• 成果类型: Article
• 署名作者: Falkinger, Josef; Grossmann, Volker
• 署名单位: University of Zurich; University of Zurich; Leibniz Association; Ifo Institut
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2012.11.003
• 发表日期: 2013
• 页码: 206-215
• 关键词: credit constraints; entrepreneurship; Oligopsony power; Land concentration; structural change

摘要

This paper develops a theory in which oligarchic ownership of land or other natural resources may impede entrepreneurship in the manufacturing sector and may thereby retard structural change and economic development. We show that, due to oligopsony power of owners in the agricultural labor market, higher ownership concentration depresses entrepreneurial investments by landless, credit-constrained households, whose investment possibilities depend on the income earned in the primary sector. We discuss historical evidence from Latin America, India, Taiwan and South Korea which supports our theory. (C) 2012 Elsevier B.V. All rights reserved.