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Oligarchic land ownership, entrepreneurship, and economic development


Falkinger, Josef; Grossmann, Volker (2013). Oligarchic land ownership, entrepreneurship, and economic development. Journal of Development Economics, 101:206-215.

Abstract

This paper develops a theory in which oligarchic ownership of land or other
natural resources may impede entrepreneurship in the manufacturing sector and
may thereby retard structural change and economic development. We show that,
due to oligopsony power of owners in the agricultural labor market, higher ownership
concentration depresses entrepreneurial investments by landless, creditconstrained
households, whose investment possibilities depend on the income
earned in the primary sector. We discuss historical evidence from Latin America,
India, Taiwan and South Korea which supports our theory.
Key words: Credit Constraints; Entrepreneurship; Oligopsony Power; Land
Concentration; Structural Change.

Abstract

This paper develops a theory in which oligarchic ownership of land or other
natural resources may impede entrepreneurship in the manufacturing sector and
may thereby retard structural change and economic development. We show that,
due to oligopsony power of owners in the agricultural labor market, higher ownership
concentration depresses entrepreneurial investments by landless, creditconstrained
households, whose investment possibilities depend on the income
earned in the primary sector. We discuss historical evidence from Latin America,
India, Taiwan and South Korea which supports our theory.
Key words: Credit Constraints; Entrepreneurship; Oligopsony Power; Land
Concentration; Structural Change.

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10 citations in Web of Science®
16 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > Development
Social Sciences & Humanities > Economics and Econometrics
Scope:Discipline-based scholarship (basic research)
Language:English
Date:March 2013
Deposited On:14 Dec 2012 16:17
Last Modified:08 May 2024 01:43
Publisher:Elsevier
ISSN:0304-3878
OA Status:Green
Publisher DOI:https://doi.org/10.1016/j.jdeveco.2012.11.003
Other Identification Number:merlin-id:7735
  • Content: Accepted Version