economic performance are very important. The paper develops an endogenous growth theory model with incomplete capital markets …

Lobbying activities bias the political decision-making process. There tend to be deviations from the socially … country does not provide enough. Lobbying activities that tend to increase the supply of this input in the latter country may … lobbying is not to high. …

politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …

maker does not react unless all of them are actively lobbying. In a ‘mutual discipline’ or high-trust equilibrium, by …

antitrust agency and where transparency - while making lobbying less effective - also implies real resource costs. We examine … regulatory failures. We find that under a welfare standard, lobbying leads to the clearance of relatively inefficient mergers … relatively efficient mergers that would increase welfare (i.e. there is a type I error). Lobbying actually reduces the extent to …