What's Bad About Crony Capitalism?

@article{Enderwick2005WhatsBA,
  title={What's Bad About Crony Capitalism?},
  author={Peter Enderwick},
  journal={Asian Business \& Management},
  year={2005},
  volume={4},
  pages={117-132}
}
While there has been much discussion of the negative effects of crony capitalism, there has been little analysis of their precise nature. It is widely agreed that crony capitalism generates significant economic rents, which result in a misallocation of resources and lower incentives for wealth creation. In addition, the corruption that accompanies cronyism constitutes a considerable impediment to growth and development. This paper provides an analysis of the likely costs of cronyism and… 
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