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https://hdl.handle.net/10419/18891
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | van Long, Ngo | en |
dc.contributor.author | Sorger, Gerhard | en |
dc.date.accessioned | 2009-01-28T15:53:36Z | - |
dc.date.available | 2009-01-28T15:53:36Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18891 | - |
dc.description.abstract | We extend the model of insecure property rights by Tornell and Velasco (1992) and Tornelland Lane (1999) by adding three features: (i) extracting the common property asset involves aprivate appropriation cost, (ii) agents derive utility from wealth as well as from consumption,and (iii) agents can be heterogeneous. We show that both an increase in the appropriation costand, when appropriation costs vary across agents, an increase in the degree of heterogeneityof these costs reduce the growth rate of the public capital stock. We also show that, in theinterior equilibrium, the private asset can have either a lower or a higher money rate of returnthan the common property asset. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1253 | en |
dc.subject.jel | O40 | en |
dc.subject.jel | C73 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | corruption | en |
dc.subject.keyword | property rights | en |
dc.subject.keyword | growth | en |
dc.subject.keyword | appropriation cost | en |
dc.subject.stw | Eigentumsrecht | en |
dc.subject.stw | Wirtschaftswachstum | en |
dc.subject.stw | Korruption | en |
dc.subject.stw | Theorie | en |
dc.title | Insecure property rights and growth : the roles of appropriation costs, wealth effects, and heterogeneity | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 856741485 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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