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Rent extraction by capitalists

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  • Brueckner, Markus

Abstract

Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970–2010, panel model estimates show that: (i) the average capital income share significantly exceeds the average capital output elasticity; (ii) the difference between the average capital income share and the average capital output elasticity has increased over time; (iii) in democracies the average capital income share is not significantly different from the average capital output elasticity. The findings suggest that there exists more rent extraction by capitalists in autocracies and anocracies than in democracies.

Suggested Citation

  • Brueckner, Markus, 2017. "Rent extraction by capitalists," European Journal of Political Economy, Elsevier, vol. 50(C), pages 157-170.
    • Handle: RePEc:eee:poleco:v:50:y:2017:i:c:p:157-170
    DOI: 10.1016/j.ejpoleco.2017.03.001
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    Cited by:

    1. Markus Brueckner & Gabriele Ciminelli & Norman Loayza, 2024. "External Shocks and Labor Market Reforms in Autocracies and Democracies: Evidence from Oil Price Windfalls," ADB Economics Working Paper Series 752, Asian Development Bank.
    2. Brueckner, Markus & Ciminelli, Gabriele & Loayza, Norman, 2025. "Oil revenues and labor market reforms," World Development, Elsevier, vol. 193(C).
    3. repec:jaf:journl:v:10:y:2019:i:2:n:278 is not listed on IDEAS
    4. Ni, Niannian & Liu, Yulin & Zhou, Hui, 2022. "Financial openness, capital rents and income inequality," European Journal of Political Economy, Elsevier, vol. 71(C).
    5. Paitoon Kraipornsak, 2020. "The Different Structure of Sources of Growth between the Developed and the Developing Asia and the Pacific Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(1), pages 22-34, January.
    6. Babarinde rene ADEROMOU & Mahmoudou Bocar SALL, 2019. "Minority investor protection and corporate governance practices," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 10(2), pages 102-117, December.
    7. repec:acb:cbeeco:2023-696 is not listed on IDEAS

    More about this item

    Keywords

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    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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