Monopoly Rights: A Barrier to Riches Export

@article{citeulike:949874, abstract = {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.}, author = {Parente, Stephen L. and Prescott, Edward C.}, citeulike-article-id = {949874}, citeulike-linkout-0 = {http://www.jstor.org/stable/117055}, journal = {The American Economic Review}, keywords = {411-1}, number = {5}, pages = {1216--1233}, posted-at = {2006-11-17 07:23:13}, priority = {2}, title = {Monopoly Rights: A Barrier to Riches}, url = {http://www.jstor.org/stable/117055}, volume = {89}, year = {1999} }

TY - JOUR ID - citeulike:949874 L3 - citeulike-article-id:949874 N2 - 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. IS - 5 JF - The American Economic Review EP - 1233 TI - Monopoly Rights: A Barrier to Riches VL - 89 SP - 1216 KW - 411-1 AU - Parente, Stephen AU - Prescott, Edward PY - 1999/// UR - http://www.jstor.org/stable/117055 ER -