Loayza, Norman; Rigolini, Jamele; Llorente, Gonzalo - In: Economics Letters 116 (2012) 3, pp. 440-444
We reexamine the association between poverty, the middle class, and institutional outcomes using a newly developed … the middle class increases (measured as the proportion of people with income above 10 US dollars a day in purchasing power … expansion of the middle class also implies more market-oriented economic policy on trade and finance. In these respects, the …