Monopoly rights: A barrier to riches

• 成果类型: Article
• 署名作者: Parente, SL; Prescott, EC
• 署名单位: University of Illinois System; University of Illinois Urbana-Champaign; University of Chicago; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.89.5.1216
• 发表日期: 1999
• 页码: 1216-1233
• 关键词: entry-deterrence; COSTS; industrialization; INVESTMENT; MODEL

摘要

Our thesis is that poor countries are poor because they employ arrangements for which the equilibrium outcomes are characterized by inferior technologies being used, and being used inefficiently. In this paper, we analyze the consequences of one such arrangement. In each industry, the arrangement enables a coalition of factor suppliers to be the monopoly seller of its input services to all firms using a particular production process. We find that eliminating this monopoly arrangement could well increase output by roughly a factor of 3 without any increase in inputs. (JEL D58, O11, O41).