Edited by Roger D. Congleton and Arye L. Hillman
This chapter shows the relevance of rents and rent seeking in post-independence India, where market-oriented reforms have substantially reduced government control over economic activities. Despite the significant economic reforms, rent seeking and corruption have been prevalent. The chapter reviews the research on rent seeking and corruption in India and outlines a theory relating rent seeking to economic reforms. Liberal and conservative economic policies are endogenous in such a framework. We also discuss other possible relationships between reforms and rent seeking in the context of an emerging market.
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