The DOI matches its Crossref record.
Vested Interests in a Positive Theory of Stagnation and Growth
Open accessAbstract
We study a positive theory of stagnation and growth aimed at understanding the large variations in growth outcomes across actual economies. The theory points to the fundamental role played by vested interests in determining policies which are key to the growth process: some agents seek to prevent the adoption of new technologies. We develop a model of technology adoption, and show how technological innovation may sow the seeds of its own destruction. In particular, we find that the equilibrium is characterized by a long cycle of stagnation and growth. Over this cycle, incumbent innovators have sufficient political influence that new technologies are prohibited, and only as these incumbents are phased out of the economy will new innovation occur. In formalizing our theory we make a methodological contribution by characterizing dynamic voting equilibria in which voters must forecast the effects of different current policies on future prices and policy outcomes.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cited by
Economic Backwardness in Political Perspective
ACEMOGLU, D., & ROBINSON, J. A. (2006) · American Political Science Review · doi:10.1017/s0003055406062046 · Cited by 709
Oligarchy, democracy, inequality and growth
Bourguignon, F., & Verdier, T. (2000) · Journal of Development Economics · doi:10.1016/s0304-3878(00)00086-9 · Cited by 616
Political Losers as a Barrier to Economic Development
Acemoglu, D., & Robinson, J. A. (2000) · American Economic Review · doi:10.1257/aer.90.2.126 · Cited by 507
Endogenous Political Institutions
Aghion, P., Alesina, A., & Trebbi, F. (2004) · The Quarterly Journal of Economics · doi:10.1162/0033553041382148 · Cited by 503
Explaining the diffusion of renewable energy technology in developing countries
Pfeiffer, B., & Mulder, P. (2013) · Energy Economics · doi:10.1016/j.eneco.2013.07.005 · Cited by 317
Metadata
- Authors
- Krusell, P., & Rios-Rull, J.-V.
- Venue
- The Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1996-04
- Volume
- 63
- Issue
- 2
- Pages
- 301
- ISSN
- 0034-6527 (ISSN-L)
- OpenAlex
- W1556112144
- Cited by
- 364
- References
- 0
- FWCI
- 17.11
- Type
- journal article
- Language
- en
- Open access
- green
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Vested Interests in a Positive Theory of Stagnation and Growth. https://app.cochat.ai/papers/10.2307/2297854
- The paper
- Krusell, P., & Rios-Rull, J.-V. (1996). Vested Interests in a Positive Theory of Stagnation and Growth. The Review of Economic Studies. https://doi.org/10.2307/2297854
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
