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Interest Groups and Investment: A Further Test of the Olson Hypothesis

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  • Coates, Dennis
  • Heckelman, Jac C

Abstract

Mancur Olson's institutional sclerosis hypothesis may be evident in the effects of interest groups on investment in physical capital. To test this proposition, we use cross sectional data on 42 countries for which information on the number of interest groups is available to estimate the effect of those groups on the share of GDP that goes into physical investment. The results indicate that interest groups have a different effect on physical investment in OECD and non-OECD countries. In the OECD countries, we find support for the hypothesis that interest groups harm investment in physical capital. In developing countries, interest groups either have no effect on physical investment or they have a slight beneficial impact. Copyright 2003 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 117 (2003)
Issue (Month): 3-4 (December)
Pages: 333-40

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Handle: RePEc:kap:pubcho:v:117:y:2003:i:3-4:p:333-40

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Web page: http://www.springerlink.com/link.asp?id=100332

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Cited by:
  1. Yakovlev, A. & Govorun, A., 2011. "Business Associations as a Business-Government Liaison: An Empirical Analysis," Journal of the New Economic Association, New Economic Association, issue 9, pages 98-127.
  2. Cole, Ismail M., 2014. "Short- and long-term growth effects of special interest groups in the U.S. states: A dynamic panel error-correction approach," MPRA Paper 54455, University Library of Munich, Germany, revised 02 Mar 2014.
  3. Bonnie Wilson & Jac Heckelman & Dennis Coates, 2007. "Special-Interest Groups and Volatility," Economics Bulletin, AccessEcon, vol. 15(18), pages 1-13.
  4. Neyapti, Bilin, 2013. "Modeling institutional evolution," Economic Systems, Elsevier, vol. 37(1), pages 1-16.
  5. Coates, Dennis & Heckelman, Jac C. & Wilson, Bonnie, 2010. "The political economy of investment: Sclerotic effects from interest groups," European Journal of Political Economy, Elsevier, vol. 26(2), pages 208-221, June.
  6. Daniel Horgos & Klaus Zimmermann, 2009. "Interest groups and economic performance: some new evidence," Public Choice, Springer, vol. 138(3), pages 301-315, March.
  7. Marta Portela & Isabel Neira, 2011. "Social Capital and growth in the European Regions," ERSA conference papers ersa10p1160, European Regional Science Association.
  8. Dennis Coates & Jac Heckelman & Bonnie Wilson, 2011. "Special-interest groups and growth," Public Choice, Springer, vol. 147(3), pages 439-457, June.
  9. Fabio Sabatini, 2009. "Does Social Capital Create Trust? Evidence from a Community of Entrepreneurs," Working Papers 2009.44, Fondazione Eni Enrico Mattei.
  10. Sebastian Coll, 2008. "The origins and evolution of democracy: an exercise in history from a constitutional economics approach," Constitutional Political Economy, Springer, vol. 19(4), pages 313-355, December.
  11. A. Yakovlev & A. Govorun, 2011. "Industrial Associations as a Channel of Business-Government Interactions in an Imperfect Institutional Environment: The Russian Case," IWH Discussion Papers 16, Halle Institute for Economic Research.

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