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Inequality and Economic Growth: The Perspective of the New Growth Theories
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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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Are ICT, Workplace Organization and Human Capital Relevant for Innovation? A Comparative Study Based on Swiss and Greek Micro Data
TL;DR: In this article, the authors investigated the relationship between indicators for the intensity of use of ICT (examining three different types of IT technologies widely used in firms): internal, e-sales, and e-procurement IS), several forms of workplace organization, and human capital on one hand, and several measures of innovation performance at firm level on the other hand, in an innovation equation framework, in which was also controlled for standard innovation determinants such as demand, competition and firm size.
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Working Capital Management and Firms’ Performance: An Analysis of Selected Indian Cement Companies
TL;DR: In this article, the authors investigated the relationship between working capital management and the firm's performance i.e. impact on profitability by taking a sample of five selected Indian cement companies for the period 2001-2010.
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The role of the discount rate in tendering highway concessions under the LPVR approach.
TL;DR: In this paper, the authors evaluate the effect of the discount rate established by the government in the bidding terms has on the traffic-risk profile ultimately allocated to the concessionaire, and find that the lower the rate the larger will be the traffic risk allocated.
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Institutional Foundations for Shared Growth in Sub‐Saharan Africa*
TL;DR: In this article, the authors examine the dynamic evolving triangular relationships between institutions, growth and inequality in the process of economic development, in order to deepen the understanding of institutional conditions for pro-poor growth and shared growth.
Posted Content
Inequality in Transition Countries: The Contribution of Markets and Government Taxes and Transfers.
TL;DR: In this article, the authors examined inequality patterns in the 1990s in Poland, Russia and Hungary using LIS micro-data and measured the Gini and Theil indices, which in turn were decomposed by source using two alternative approaches (the Shorrocks' axiomatic approach and the Theil-based decomposition).
References
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An Exploration in the Theory of Optimum Income Taxation
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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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