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| Author: | Parente, S. Prescott, E. |
| Title: | Monopoly rights: a barrier to riches |
| Journal: | American Economic Review
1999 : DEC, VOL. 89:5, p. 1216-1233 |
| Index terms: | ECONOMICS MONOPOLY RIGHTS ISSUES |
| Language: | eng |
| Abstract: | The authors' 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, the authors 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. The authors find that eliminating this monopoly arrangement could well increase output by roughly a factor of 3 without any increase in inputs. |
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