Showing 1 - 10 of 231
We develop a model of endogenous lobby formation in which wealth inequality and political accountability undermine entry and financial development. Incumbents seek a low level of effective investor protection to prevent potential entrants from raising capital. They succeed because they can...
Persistent link: https://www.econbiz.de/10005662100
reduce some forms of poverty and inequality but worsen others, so the net effects are unclear without empirical modeling … the remaining distortions to world merchandise trade on poverty and inequality globally and in various developing … for a sample of 15 countries, and ten stand-alone national case studies, all point to larger reductions in poverty …
Persistent link: https://www.econbiz.de/10008468695
This paper studies the impact of income inequality on fiscal conservatism when an increase in inequality affects the bottom portion of income distribution. It is argued that, contrary to what is generally assumed in the economic literature, inequality will then be associated with less, rather...
Persistent link: https://www.econbiz.de/10005136638
rise in income inequality. Poverty has increased sharply with an estimated 18.5% of the population on incomes below the …
Persistent link: https://www.econbiz.de/10005498039
Using tariffs as a measure of openness, this paper finds consistent evidence that the conditional effects of trade liberalization on inequality are correlated with relative factor endowments. Trade liberalization is associated with increases in inequality in countries well-endowed in highly...
Persistent link: https://www.econbiz.de/10005114466
estimates of the impact of adjustment on poverty using household income and expenditure surveys currently available in LDCs. It … proposes the use of decomposable poverty indices as a tractable vehicle for calculating the impact of adjustment on overall … poverty. This framework does require, however, reasonably disaggregated data on income distribution. …
Persistent link: https://www.econbiz.de/10005661633
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into either a research sector or a manufacturing sector that produces differentiated goods. Each research project generates a new variety of the differentiated...
Persistent link: https://www.econbiz.de/10011083890
A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the acquisition of information about firms, its partial revelation through stock prices, capital allocation and income. The stock market allows investors to share their costly private...
Persistent link: https://www.econbiz.de/10009293661
We use portfolio theory to quantify the efficiency of state-level sectoral patterns of production in the United States. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for investments in the real economy. We study how rapidly...
Persistent link: https://www.econbiz.de/10005662195
This paper investigates whether privatization in emerging economies has a significant indirect effect on local stock market development through the resolution of political risk. We argue that a sustained privatization program represents a major political test which gradually resolves uncertainty...
Persistent link: https://www.econbiz.de/10005662345