世界経済・社会統計 = World development indicators

https://link.springer.com/content/pdf/10.2307%2F3343168.pdf

Development as Freedom

Does finance affect economic growth? A number of studies have identified a positive correlation between the level of development of a country's financial sector and the rate of growth of its per capita income. As has been noted elsewhere, the observed correlation does not necessarily imply a causal relationship. This paper examines whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship; that financial development reduces the costs of external finance to firms. Specifically, we ask whether industrial sectors that are relatively more in need of external finance develop disproportionately faster in countries with more developed financial markets. We find this to be true in a large sample of countries over the 1980s. We show this result is unlikely to be driven by omitted variables, outliers, or reverse causality.

/pdf/financial-dependence-and-growth-2meheeba1z.pdf

Financial Dependence and Growth

This study examines why rural-urban labor migration persists and is even increasing in many developing nations despite the existence of positive marginal products in agriculture and significant levels of urban unemployment. Conventional economic models have difficulty reconciling rational behavioral explanations with growing levels of urban unemployment in the absence of absolute labor redundancy in the overall economy. This paper formulates a 2-sector model of rural-urban migration which recognizes the existence of a politically determined minimum urban wage at levels substantially higher than agricultural earnings. The distinguishing feature of the model is that migration proceeds in response to urban-rural differences in expected earnings with the urban employment rate acting as an equilibrating force on such migration. The overall model is used to demonstrate 1) that given the politically determined high minimum wage the continued existence of rural-urban migration in spite of substantial urban unemployment represents an economically rational choice on the part of the individual migrants and 2) that economists standard policy recommendation of generating urban employment opportunities through the use of "shadow prices" implemented by means of wage subsidies or direct government hiring may lead to a worsening of the urban unemployment problem. Welfare implications of alternative policies associated with various programs to retain rural population are assessed under the assumption that the full wage flexibility suggested by economic theory is politically unfeasible; it is concluded that in the absence of wage flexibility an optimal policy would include both partial wage subsidies or direct government employment and measures to restrict free migration. The basic model is a 2-sector internal trade model with unemployment the 2 sectors being the permanent urban sector which specializes in production of manufactured goods and the rural which either uses all available labor to produce agricultural goods or exports part of the labor to the urban sector. It is assumed that the typical migrant retains his ties to the rural sector but the assumption is not necessary for the argument.

/pdf/migration-unemployment-and-development-a-two-sector-analysis-1jahzplbex.pdf

Migration unemployment and development: a two-sector analysis.

We investigate whether income inequality affects subsequent growth in a cross-country sample for 1965-90, using the models of Barro (1997), Bleaney and Nishiyama (2002) and Sachs and Warner (1997), with negative results. We then investigate the evolution of income inequality over the same period and its correlation with growth. The dominating feature is inequality convergence across countries. This convergence has been significantly faster amongst developed countries. Growth does not appear to influence the evolution of inequality over time. Outline

https://www.econstor.eu/bitstream/10419/81822/1/02-28.pdf

Economic growth and income inequality

An attempt is made to make a contribution toward the theory of growth by analyzing the transition process through which an underdeveloped economy hopes to move from a condition of stagnation to one of self sustaining growth. Already accepted ideas are liberally drawn upon before proceeding to weave them into a general explanatory model of economic growth. The analysis begins with an economys first departure from quasistagnation or the initiation of the "take off process." Rostow defines this as a period of 2 or 3 decades during which the economy transforms itself in such a way that economic growth becomes subsequently more or less automatic. Its characteristics are a reduction of the rural proportion of the population a doubling of savings rates and the first marked and continuous flowering of industry stimulated by the availability of surplus labor. Arthur Lewis investigates the expansion of the capitalistic or industrial sector as it is nourished by supplies of cheap labor from the subsistence or agricultural sector. Lewis failed to present a satisfactory analysis of the subsistence or agricultural sector. Finally the economy must be able to solve its Malthusian problem if the process of development along a balanced growth path is to prove successful. The contribution of this discussion is to construct a theory of economic growth of which the identified ideas constitute component parts. The 5 sections present the basic structure of the "neglected" agricultural sector generalize the previously "static" analysis by admitting the possibility of a change of productivity in the agricultural sector introduce changes in industrial productivity and the concept of a "balanced growth criterion" by means of which the termination of the take off process is formally defined present a prescise mathematical formulation of the theory which enables the making of certain quantitative conditional predictions as a 1st test of its empirical relevancy and integrate population growth as well as some other real world complexities into the model and investigate the notion of the critical minimum effort in relation to the length of the take off process.

/pdf/a-theory-of-economic-development-37gwjp7bht.pdf

A theory of economic development.

http://www.econ.yale.edu/~granis/papers/cp0546.pdf

Economic Growth and Human Development

Development of the labor surplus economy : theory and policy

I. Introduction, 17. — II. Growth and income distribution, 18. — III. Application to Taiwan, 24. — IV. Impact of growth on FID: qualitative and quantitative aspects, 27. — V. Concluding remarks, 36. — Appendix, 38.

Growth and the Family Distribution of Income by Factor Components

This paper explores the two-way relationships between Economic Growth (EG) and Human Development (HD), building on an earlier work by Ranis, Stewart, and Ramirez (2000). Here, we show that HD is not only a product of EG but also an important input to it. The paper develops new empirical strategies to estimate the strength of the two-way chains connecting HD and EG. Building on existing growth literature, we explore the empirical determinants of positive growth trajectories running from HD to EG and find that HD plays an essential role in explaining growth trajectories. Our findings point to the empirical relevance of endogenous growth models in general, and threshold effect models in particular. We also develop a measure of the strength of the EG to HD relationship and explore some of its empirical determinants. A strong sequencing implication of our findings that HD must be given priority for the achievement of both higher EG as well as HD.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID487469_code273046.pdf?abstractid=487469&mirid=1

Gustav Ranis

Papers

A theory of economic development.

Economic Growth and Human Development

Development of the labor surplus economy : theory and policy

Growth and the Family Distribution of Income by Factor Components

Paths to Success: The Relationship between Human Development and Economic Growth