Three Essays On Income Inequality And Economic Growth
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Three Essays On Income Inequality And Economic Growth
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Author : Aoyu Hou
language : en
Publisher:
Release Date : 2020
Three Essays On Income Inequality And Economic Growth written by Aoyu Hou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Convergence (Economics) categories.
Three Essays On Income Inequality
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Author : Anjan Kumar Saha
language : en
Publisher:
Release Date : 2015
Three Essays On Income Inequality written by Anjan Kumar Saha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This thesis contains three essays on income inequality. The underlying theme is to investigate the relationship of income inequality with political instability, economic growth, and financial development. To this end, the first study aims to explore the relationship of income inequality with political instability. Motivated by the observation that politically unstable countries tend to have wide income gaps, the study explores the possibility that major source of political instability is income inequality, which can be traced back to the history of early development across the globe. Using data for 95 countries, the estimates provide support for the notion that before 1500 CE early development of our ancestors, and after 1500 CE colonization, and evolution of institutions can explain today's income inequality, which subsequently affects political stability of a country. Irrespective of the subsamples used, the results confirm highly significant impact of unequal income distribution on political instability. The second study investigates the endogeneity between income inequality and economic growth, which seems to be impregnable in the literature. Motivated by Spolaore and Wacziarg's (2009) influential idea that genetic distance of population between countries puts barrier to the diffusion of development, this work constructs weighted average growth of other countries as instruments for economic growth that can explain inequality across the countries. The weights come from genetic and geographic distances between two countries. Income growth per capita is instrumented to find growth's impact on the top income shares first, and then the residuals of the regression are used as instruments for the top income shares to identify the net impact of top income shares on economic growth in the subsequent regressions. Using top income data of fourteen OECD countries for around hundred years, the estimates provide support to the view that growth reduces top income shares; however, top income shares in turn enhances economic growth. The third study explores the possibility of financial development as a major determinant of top income shares in the OECD countries. In a century long panel of time series data of top income shares and financial development, the work attempts to capture the impact of financial development on the income distribution of the top income strata. Couple of dynamic models has been used to check the robustness of our hypothesis in favour of financial development as a major source of rise in the top income shares. The results show that a one standard deviation rise in financial development, measured by private credit-GDP ratio, is associated with an increase of the top 1% income shares by around 0.3 standard deviation of its own. The effects are also robust to the other measures of top income shares.
Three Essays On Economic Growth And Development
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Author : Rodrigo Priale
language : en
Publisher:
Release Date : 1993
Three Essays On Economic Growth And Development written by Rodrigo Priale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.
Three Essays On Financial Activity Growth And Inequality
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Author : Jinyoung Hwang
language : en
Publisher:
Release Date : 2001
Three Essays On Financial Activity Growth And Inequality written by Jinyoung Hwang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Bank loans categories.
Three Essays On Economic Growth And Income Distribution
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Author : Lisa Beth Tilis
language : en
Publisher:
Release Date : 1993
Three Essays On Economic Growth And Income Distribution written by Lisa Beth Tilis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Economic development categories.
Three Essays On China S Economic Growth And Inequality
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Author : Yuyu Wang
language : en
Publisher:
Release Date : 2009
Three Essays On China S Economic Growth And Inequality written by Yuyu Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment
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Author : Iqtiaruddin Md Mamun
language : en
Publisher:
Release Date : 2014
Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment written by Iqtiaruddin Md Mamun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The central theme of this thesis is capital accumulation. The thesis reports that increase in economic growth rate and reduction in income inequality boosts capital accumulation that in turn reduces unemployment. Three essays constitute the thesis. The first essay investigates whether saving has been driven by growth or gowth has been driven by saving using data of Asian Miracle Economies (AME) - India, Indonesia, Singapore, South Korea, and Taiwan - over the period 1870-2011.The second essay explores the effect of income inequality on capital accumulation using the data of 20 OECD countries - Canada, USA, Japan, Australia, New Zealand, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherland, Norway, Portugal, Spain, Sweden, and UK - over the period 1870-2011. The effect of capital accumulation on unemployment in 21 OECD countries - Canada, USA, Japan, Australia, New Zealand, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherland, Norway, Portugal, Spain, Sweden, Switzerland and UK - has been explored in the third essay. Following the neoclassical revival some economists attribute the amazing productivity growth rate in Asian Miracle Economies (AME) to capital accumulation while assign the backseat to the technological progress - the so called Krugman-Young hypothesis in which saving and schooling are independent of growth. However such assumption is questionable as from the perspective of growth accounting using Cobb-Douglas production function, theories of saving and the scenario that in AMEs prior to WWII living standard was close to subsistence level thus leaving less opportunity of saving and only after WWII with the increase in living standard financial saving and education increase it may be shown that saving and education are not exogenous and independent of growth. The first essay addresses this endogeneity and applying a two-way identification strategy and unique data covering the period 1870-2011 for the AMEs finds that financial saving as well as education comes from productivity growth, financial saving has no significant effect on growth but growth is positively related to the change in educational attainment. These results are robust to choice of instrument set, productivity measurement, the choice of growth model, measurement of saving, inclusion of covariates, and to the choice of estimation period. The essay contributes to the literature explaining that productivity growth drives fixed and human capital accumulation as in the growth controversy it has never been asked and the factor accumulation hypothesis never explains from where the savings come and very little work, if any, has investigated whether growth influences education. The findings of the existing empirical literature suggest that the effect of income inequality on savings is either positive or insignificant. The reason for such findings of the existing empirical literature may be that in estimating the coefficient of income inequality on savings the positive feed-back effect from savings to income inequality has not been dealt with adequately. The second essay takes this endogeneity arising from positive feed-back effect of savings to income inequality in to consideration and applies a two-way identification strategy and unique data covering the period 1870-2011 for 20 OECD countries andfinds that income inequality affects savings negatively. The finding is robust to variation in estimation periods, different measures of saving and inequality and the inclusion of important confounding variables such as financial development, growth and education. Following the seminal work of Layard, Nickell, and Jackman (2005) that propounds no linkage between capital accumulation and unemployment based on the assumption of elasticity of substitution between capital and labour equals unity the role of capital accumulation has been deemphasized for long in explaining unemployment. And the emphasis was on labour market deregulation for reducing unemployment as labour market rigidities arising from trade union power; labour taxes, generous welfare benefits, strict employment protection, and other institutional factors were considered to be the main determinants of unemployment. The third essay using the data for the largest number of countries over the longest period of time - 21 OECD countries over the period 1870-2011- with wage push and aggregate demand factors being taken in to account finds that capital accumulation is important in reducing OECD unemployment.
Three Essays On Institutional And Economic Development
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Author : Kevin Sylwester
language : en
Publisher:
Release Date : 1997
Three Essays On Institutional And Economic Development written by Kevin Sylwester and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Three Essays On Income And Wealth Inequality
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Author : Damir Cosic
language : en
Publisher:
Release Date : 2015
Three Essays On Income And Wealth Inequality written by Damir Cosic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The Quality Of Society Volume Iii
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Author : Adolfo Figueroa
language : en
Publisher: Springer Nature
Release Date : 2023-10-29
The Quality Of Society Volume Iii written by Adolfo Figueroa and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-29 with Political Science categories.
This book contains another set of essays dealing with the fundamental economic problems of our time: inequality, environment degradation, and social disorder, which are analyzed in light of the unified theory of capitalism. This theory is a scientific endeavor that seeks to explain the capitalist system taken by parts and then taken as a whole, as a unified theory. By parts, the theory analyzes the First World and the Third World and also the short run, long run, and very long run economic processes, showing why and how economic growth has led to a new epoch, with ecological equilibrium disruption, known as the Anthropocene Age. The empirical predictions of the theory are proven to be consistent with the available facts. Therefore, the theory can be accepted as a good representation of the real-world capitalism; moreover, its derived causality relations become inputs for the debate on the needed science-based policies for the new age. Indeed, this book proposes structural policies to change the way capitalism operates, through changes in its basic institutions, mainly the electoral democracy, which would certainly imply a re-foundation of the capitalist system.