caught in a vicious circle. They lack sufficient access to education, credit and other means to generate income, so they earn … lower wages, which in turn prevents them from accumulating the assets they need to increase future income. The authors … analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections …

. With such information a database of more than 6 million observations (workers, parents, children, etc.) was constructed …. The research results show that the number of children of the younger parents has drastically decreased. …

caught in a vicious circle. They lack sufficient access to education, credit and other means to generate income, so they earn … lower wages, which in turn prevents them from accumulating the assets they need to increase future income. The authors … analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections …