distribution and growth, as well as the relevant empirical evidence. The first model integrates the political-economy and imperfect … capital markets theories. It allows for departures from perfect democracy and embodies the trade-off between the growth costs … savings incentives and ameliorate the wealth constraints that impede investment by the poor. The second model is a growth …

The goal of this paper is to propose a simple paradigm for understanding rent seeking and corruption in the growth … context. We develop an endogenous growth model where entrepreneurs, as intermediate-good producers, may engage in rent … economy is shown to fall into a trap of high rent seeking/corruption and low growth. Agents' perceptions about the external …

economic performance are very important. The paper develops an endogenous growth theory model with incomplete capital markets … demonstrated enormous differences in growth rates. It is found that these differences may be explained by initial conditions and … effectiveness of institutions. Also, positive impact of inequality on the level of public protection of property rights is found and …