Economic Rents, Property Rights, and Economic Performance

Several commentators (Krugman, DeLong, etc.) have noticed the difference between the economic growth performance of Democratic and Republican  administrations.  The puzzle has been explaining the differences.   One answer may be the higher levels of rent redistribution during Republican administrations.   Since the development of modern state institutions in the 1930s, many rents are allocated by administrative means, not legislative ones.  When administrations change control of the various regulatory bodies shifts.  Positing that Republicans interpret being "pro-business" as doing special favors for particular firms, it seems that rent seeking rises with their administrations.   Of course, the inefficiencies arising from rent seeking are well documented.