Inequality Of Opportunity And Economic Development
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Inequality Of Opportunity And Economic Development
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Author : Francisco H. G. Ferreira
language : en
Publisher:
Release Date : 2006
Inequality Of Opportunity And Economic Development written by Francisco H. G. Ferreira and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Desarrollo economico - America Latina categories.
Just as equality of opportunity becomes an increasingly prominent concept in normative economics, the authors argue that it is also a relevant concept for positive models of the links between distribution and aggregate efficiency. Persuasive microeconomic evidence suggests that inequalities in wealth, power, and status have efficiency costs. These variables capture different aspects of people's opportunity sets, for which observed income may be a poor proxy. One implication is that the cross-country literature on income inequality and growth may have been barking up the wrong tree, and that alternative measures of the relevant distributions are needed. The authors review some of the detailed microeconomic evidence, and then suggest three research areas where further work is needed.
Inequality Of Opportunity Inequality Of Income And Economic Growth
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Author : Mr.Shekhar Aiyar
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-15
Inequality Of Opportunity Inequality Of Income And Economic Growth written by Mr.Shekhar Aiyar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-15 with Business & Economics categories.
We posit that the relationship between income inequality and economic growth is mediated by the level of equality of opportunity, which we identify with intergenerational mobility. In economies characterized by intergenerational rigidities, an increase in income inequality has persistent effects—for example by hindering human capital accumulation— thereby retarding future growth disproportionately. We use several recently developed internationally comparable measures of intergenerational mobility to confirm that the negative impact of income inequality on growth is higher the lower is intergenerational mobility. Our results suggest that omitting intergenerational mobility leads to misspecification, shedding light on why the empirical literature on income inequality and growth has been so inconclusive.
Inequality Of Opportunity Inequality Of Income And Economic Growth
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Author : Mr.Shekhar Aiyar
language : en
Publisher:
Release Date : 2019
Inequality Of Opportunity Inequality Of Income And Economic Growth written by Mr.Shekhar Aiyar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Inequality Of Opportunity And Economic Growth
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Author :
language : en
Publisher:
Release Date : 2014
Inequality Of Opportunity And Economic Growth written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Economic development categories.
Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be associated with faster economic growth, other kinds, arising from unequal opportunities for investment, might be detrimental to economic progress. This study uses two new metadata sets, consisting of 118 household surveys and 134 Demographic and Health Surveys, to revisit the question of whether inequality is associated with economic growth and, in particular, to examine whether inequality of opportunity--driven by circumstances at birth--has a negative effect on subsequent growth. The results are suggestive but not robust: while overall income inequality is generally negatively associated with growth in the household survey sample, we find no evidence that this is due to the component associated with unequal opportunities. In the Demographic and Health Surveys sample, both overall wealth inequality and inequality of opportunity have a negative effect on growth in some of the preferred specifications, but the results are not robust to relatively minor changes. On balance, although the results are suggestive of a negative association between inequality and growth, the data do not permit robust conclusions as to whether inequality of opportunity is bad for growth.
Inequality Of Outcomes Inequality Of Opportunity And Economic Growth
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Author : Rafael Carranza
language : en
Publisher:
Release Date : 2020
Inequality Of Outcomes Inequality Of Opportunity And Economic Growth written by Rafael Carranza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Outcomes Opportunity And Development
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Author : Ezequiel Molina
language : en
Publisher:
Release Date : 2013
Outcomes Opportunity And Development written by Ezequiel Molina and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Econometric models categories.
This paper studies the relationship between inequality of opportunity and development outcomes in a cross-country setting. Scholars have long debated the impact of inequality on growth, development, and the quality of institutions in a society. The empirical relationships are however confounded by the notion that "inequality" can be seen as a composite of inequality arising from differences in effort and ability, which would tend to encourage competition and productivity, and inequality attributable to unequal opportunities, particularly in terms of access to basic goods and services, which might translate to wasted human potential and lower levels of development. The analysis in this paper applies a measure of educational opportunities that incorporates inequality between "types" or circumstance groups. Theories from economic history are used to instrument for this type of inequality in a large cross-country dataset. The results seem to confirm the hypothesis that this measure of inequality of opportunity is a better fit for structural inequality than the Gini index of income. The results suggest that inequality of endowments at the outset of history led to unequal educational opportunities, which in turn affected development outcomes such as institutional quality, infant mortality, and economic growth. The findings are robust to several checks on the instrumental variable specification.
Equity And Development
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2006
Equity And Development written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
This year, the workshop examined the conceptual foundation of the workshop sessions by discussing the definition of equity itself. What do we mean by equity, and how does equity differ from equality? Whereas equity is commonly associated positively with impartiality and justice, economists understand equality as an idealistic and unattainable goal often linked to socialism and communism. The terminological twins equity/equality, however, can be conceptualized in highly diverging ways with different consequences for development strategy. The discussions throughout the workshop mirror the controversial positions of international discourse on the topic. Through the varying dimensions of these terms, discussions focused on the different responsibilities for political action such terms entail. For example, whereas equality in outcome implies an egalitarian perspective, economic studies on inequality in outcome mostly take into account the results of actions and conditions such as unequal incomes. Session I, on what is equity, and, what is the role for governments in the promotion of equity, further discussed how does this role differ between developed and developing countries. Nonetheless, it was suggested that before operationalizing and measuring inequity, the concept itself has to be clarified, and, further arguments indicated that one future challenge for development policy is precisely to combine growth-promoting policies with policies that assure that the poor can fully participate in the opportunities that growth offers. Session II, on equity-enhancing social transformation and historical evidence from European and Transition Countries, focus on policies that impact equity. Session III, on building efficient welfare states and lessons learnt, discussed the task of formulating policies that foster both efficiency and equitable social welfare, while Session IV, on international inequalities and what can be done to reduce them, focuses on the global level, contrary to Session III which concentrated on equity issues at the national level. Finally, Session V, on what will greater integration mean for inequalities between and within the richer and poorer countries of the New Europe, draws a very differentiated picture. Conclusions outlined key issues that need to be addressed, noting the importance of carefully analyzing different redistributive instruments with respect to their effects on growth and efficiency, and vice versa.
Inequality Of Opportunity Inequality Of Income And Economic Growth
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Author : Shekhar S. Aiyar
language : en
Publisher:
Release Date : 2019
Inequality Of Opportunity Inequality Of Income And Economic Growth written by Shekhar S. Aiyar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
We posit that the relationship between income inequality and economic growth ismediated by the level of equality of opportunity, which we identify with intergenerationalmobility. In economies characterized by intergenerational rigidities, an increase in incomeinequality has persistent effects-for example by hindering human capital accumulation-thereby retarding future growth disproportionately. We use several recently developedinternationally comparable measures of intergenerational mobility to confirm that thenegative impact of income inequality on growth is higher the lower is intergenerationalmobility. Our results suggest that omitting intergenerational mobility leads tomisspecification, shedding light on why the empirical literature on income inequality andgrowth has been so inconclusive.
Inequality Of Opportunity And Economic Growth
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Author : Francisco H. G. Ferreira
language : en
Publisher:
Release Date : 2017
Inequality Of Opportunity And Economic Growth written by Francisco H. G. Ferreira and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be associated with faster economic growth, other kinds, arising from unequal opportunities for investment, might be detrimental to economic progress. This study uses two new metadata sets, consisting of 118 household surveys and 134 Demographic and Health Surveys, to revisit the question of whether inequality is associated with economic growth and, in particular, to examine whether inequality of opportunity -- driven by circumstances at birth -- has a negative effect on subsequent growth. The results are suggestive but not robust: while overall income inequality is generally negatively associated with growth in the household survey sample, we find no evidence that this is due to the component associated with unequal opportunities. In the Demographic and Health Surveys sample, both overall wealth inequality and inequality of opportunity have a negative effect on growth in some of the preferred specifications, but the results are not robust to relatively minor changes. On balance, although the results are suggestive of a negative association between inequality and growth, the data do not permit robust conclusions as to whether inequality of opportunity is bad for growth.
Uneven Odds Unequal Outcomes
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Author : Nandini Krishnan
language : en
Publisher: World Bank Publications
Release Date : 2016-06-28
Uneven Odds Unequal Outcomes written by Nandini Krishnan and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-28 with Social Science categories.
Perceptions of eroding living standards and low life satisfaction are widespread in the Middle East and North Africa region today, along with pessimism about prospects for economic mobility. Conventional measures of economic well-being offer little in the way of explanation †“ in most countries in the region, extreme poverty is low and declining and economic inequality is lower than in other parts of the world. This book investigates possible reasons for this disconnect, focusing on the role played by inadequate and unequal access to opportunities to realize one’s aspirations for economic mobility. The inability of most countries in the region to meet the aspirations of citizens is closely linked to persistent weaknesses in the labor markets where the pace of job creation has been chronically below levels required to absorb the growing and increasingly better educated population. A high degree of segmentation in the labor markets also puts the youth and women in the region at a particular disadvantage. While labor markets are critical for mobility, opportunities and life paths can diverge even earlier in life if access to basic services in health, education and infrastructure are unequally distributed among children in their formative years. This book documents sharp disparities in the quality of services available to children of varying birth circumstances in the region. Although the most intense debates in development coalesce around inequality of income or wealth, the notion of inequality of opportunity has an intuitive appeal that can bridge ideological differences. By drawing attention to the notion of equality of opportunity to create a level playing field for all sections of society, the book highlights the need to critically examine the social contract and governance structures that guide the delivery of services and are instrumental for implementing necessary reforms to make labor markets more dynamic and equitable.