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Cited by 2,092

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

The Allocation of Talent: Implications for Growth

Open access
Murphy, Kevin M., Shleifer, Andrei, Vishny, Robert W.·1991·The Quarterly Journal of Economics
DOI 10.2307/2937945
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Abstract

A country's most talented people typically organize production by others, so they can spread their ability advantage over a larger scale. When they start firms, they innovate and foster growth, but when they become rent seekers, they only redistribute wealth and reduce growth. Occupational choice depends on returns to ability and to scale in each sector, on market size, and on compensation contracts. In most countries, rent seeking rewards talent more than entrepreneurship does, leading to stagnation. Our evidence shows that countries with a higher proportion of engineering college majors grow faster; whereas countries with a higher proportion of law concentrators grow more slowly.

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Metadata

Authors
Murphy, K. M., Shleifer, A., & Vishny, R. W.
Venue
The Quarterly Journal of Economics
Publisher
Oxford University Press (OUP)
Published
1991-05
Volume
106
Issue
2
Pages
503
ISSN
0033-5533 (ISSN-L)
DOI
10.2307/2937945
OpenAlex
W2407856457
Cited by
2,092
References
1
FWCI
44.24
Type
journal article
Language
en
Open access
green

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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.