It has long been recognized that the media play an essential role in government
accountability. Even in the absence of censorship, however, the government may
influence news content by maintaining a "cozy" relationship with the media. This
paper develops a model of democratic politics in which media capture is endogenous.
The model offers insights into the features of the media market that determine
the ability of the government to exercise such capture and hence to influence
political outcomes. (JEL D72, D73, L82)
Besley, Timothy and Andrea Prat.
2006."Handcuffs for the Grabbing Hand? Media Capture and Government Accountability."American Economic Review,
96(3): 720-736.DOI: 10.1257/aer.96.3.720