Mork, Knut Anton - In: Scandinavian Journal of Economics 95 (1993) 4, pp. 597-605
The social effects of lobbying are studied in a model where growth can be improved by policy, but only at the cost of lobbying. Three results are derived: (1) the growth rate in an equilibrium with lobbying is higher than if lobbying and policy are both banned; (2) if the subjective discount rate...