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This research develops a theory about the role of within-country income inequality leading to overtaking in economic … performance among countries. The theory captures two opposing effects of inequality on factor accumulation and suggests that the … inequality, a less egalitarian economy follows a higher growth path in the short run, with a lower growth path in the long run …
Persistent link: https://www.econbiz.de/10005556070
, speaks a clear language in favor of Islamic democracy and against those in the West that attempt to treat Islamic cultural … Conference has – ceteris paribus – a very positive effect on political democracy, on life expectancy, and on our indicators of …
Persistent link: https://www.econbiz.de/10005125619
penetration. Keywords: cross-section models, income distribution, inequality, international economic order, economic welfare …
Persistent link: https://www.econbiz.de/10005556011
The years following the Second World War were those of the greatest economic growth that Europe had ever seen. If the countries of the Iberian Peninsula, neutral in the conflict and ruled by dictatorial regimes, enjoyed that growth and had participated in the convergence phenomenon, Ireland,...
Persistent link: https://www.econbiz.de/10005076554
rate); (3) federal, state and local government negatively correlates with growth; (4) the relationship between educational …
Persistent link: https://www.econbiz.de/10005076836
We utilize county-level data to explore the roles of different types of human capital accumulation in U.S. growth determination. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. The large number of observations provides enough degrees of freedom to...
Persistent link: https://www.econbiz.de/10005126012
Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past...
Persistent link: https://www.econbiz.de/10005062447
We use a set of established growth models, which simultaneously include human capital and R&D, to show that the effect of mortality rate in human capital accumulation is quantitatively more important than the effect of perfectly guaranteed patents on research. First, we show that the effect of...
Persistent link: https://www.econbiz.de/10005407750
In this paper we outline (i) why ó-convergence may not accompany â- convergence, (ii)cite evidence of â-convergence in the U.S., (iii) and use USA county-level data containing over 3,000 cross-sectional observations to demonstrate that ó-convergence does not hold across the U.S., or within...
Persistent link: https://www.econbiz.de/10005412590
counties converge 2½ times faster than Northeastern counties; (3) government size at all levels (federal, state and local) is …
Persistent link: https://www.econbiz.de/10005412718