Open AccessPosted Content
Inequality and Economic Growth: The Perspective of the New Growth Theories
TLDR
This paper analyzed the relationship between inequality and economic growth from two directions, showing that when capital markets are imperfect, there is not necessarily a trade-off between equity and efficiency, and provided an explanation for two recent empirical findings, namely, the negative impact of inequality and the positive effect of redistribution upon growth.Abstract:
We analyze the relationship between inequality and economic growth from two directions. The first part of the survey examines the effect of inequality on growth, showing that when capital markets are imperfect, there is not necessarily a trade-off between equity and efficiency. It therefore provides an explanation for two recent empirical findings, namely, the negative impact of inequality and the positive effect of redistribution upon growth. The second part analyzes several mechanisms whereby growth may increase wage inequality, both across and within education cohorts. Technical change, and in particular the implementation of "General Purpose Technologies," stands as a crucial factor in explaining the recent upsurge in wage inequality.read more
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Dissertation
Interdependencies between intra and intragenerational equity in sustainable environemental resources management
TL;DR: In this paper, the authors propose to consider simultaneously intra and intergenerational equity for environmental resources management issues, and examine the trade-offs between these two dimensions of equity to define an equitable allocation of resources over time and within generations.
Dissertation
Microfinance and Amartya Sen's capability approach
TL;DR: In this paper, the authors evaluate Sen's capability approach by considering moral philosophy (utilitarianism and John Rawls' theory of justice) and developmental ethics contexts, and analyse the impact of micro-loans on poverty reduction in accordance with Sen's approach.
Journal ArticleDOI
Inequality and Growth: Reviewing the Economic and Social Impacts
TL;DR: A review of the literature on the impact of inequality on economic growth can be found in this article, where the authors focus on the mechanisms suggested in the literature linking inequality and economic growth.
Posted Content
The Effects of Intraregional Disparities on Regional Development in China: Inequality Decomposition and Panel-Data Analysis
TL;DR: In this paper, the authors analyzed the development and effects of intra-provincial regional disparities in China between 1989 and 2001, and showed that intraprovincial disparities contribute significantly to total regional inequality.
Journal ArticleDOI
The 'Invisible Handout?' Smith, J. S. Mill and Marshall on Inequality and Progress
TL;DR: In this article, the authors examine the role of government in reducing inequality of wealth and income in a growing free market economy, and find that Adam Smith, John Stuart Mill and Alfred Marshall shared a concern over excessive inequality of income and wealth, along with an attachment to individual choice, free markets and a minimal economic role.
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Report SeriesDOI
Initial conditions and moment restrictions in dynamic panel data models
Richard Blundell,Stephen Bond +1 more
TL;DR: In this paper, two alternative linear estimators that are designed to improve the properties of the standard first-differenced GMM estimator are presented. But both estimators require restrictions on the initial conditions process.
The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
Legal Determinants of External Finance
TL;DR: The authors showed that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrower capital markets than those with stronger investor protections.
Journal ArticleDOI
An Exploration in the Theory of Optimum Income Taxation
TL;DR: In this paper, the authors make the following simplifying assumptions: (1) Intertemporal problems are ignored; (2) the tax system that would bring about that result would completely discourage unpleasant work; and (3) what such a tax schedule would look like; and what degree of inequality would remain once it was established.
Journal ArticleDOI
Income Distribution and Macroeconomics
Oded Galor,Joseph Zeira +1 more
TL;DR: The authors analyzes the role of wealth distribution in macroeconomics through investment in human capital and shows that the initial distribution of wealth affects aggregate output and investment both in the short and in the long run, as there are multiple steady states.
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