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What Drives Financial Development? A Meta-Regression Analysis

Doucouliagos, Chris - 2020

This paper offers a meta-regression analysis of the literature on the drivers of financial development. Our results based on 1900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of GDP). Domestic...

Persistent link: https://www.econbiz.de/10012830987

Polygyny, Inequality, and Social Unrest

Krieger, Tim - 2020

This paper proposes three theoretical mechanisms through which polygyny may be related to social unrest. The mechanisms are related to different dimensions of grievance-inducing and, partly, greed-related inequality, which may occur in polygynous societies. These dimensions include (i) economic,...

Persistent link: https://www.econbiz.de/10012836203

Redistribution of Return Inequality

Schulz, Karl - 2021

Wealthier households obtain higher returns on their investments than poorer ones. How should the tax system account for this return inequality? I study capital taxation in an economy in which return rates endogenously correlate with wealth. The leading example is a financial market, where the...

Persistent link: https://www.econbiz.de/10013233147

Intragenerational Inequality Aversion and Intergenerational Equity

Cairns, Robert D.; Del Campo, Stellio; Martinet, Vincent - 2021

We study the interplay between intragenerational and intergenerational equity in an economy with two countries producing and consuming from national capital stocks. We characterize the sustainable development path that a social planner would implement to achieve intertemporal egalitarianism. If...

Persistent link: https://www.econbiz.de/10013239334

Inequality of Opportunity and Income Redistribution

Preuss, Marcel; Somerville, Jason; Reyes, Germán; Wu, Joy - 2023

We examine how people redistribute income when there is uncertainty about the role luck plays in determining opportunities and outcomes. We elicit redistribution decisions from a U.S.-representative sample who observe worker outcomes and whether luck magnified workers’ effort (“lucky...

Persistent link: https://www.econbiz.de/10014357631

Misperceiving Economic Success : Experimental Evidence on Meritocratic Beliefs and Inequality Acceptance

Fehr, Dietmar; Vollmann, Martin - 2022

Meritocratic beliefs are often invoked as justification of inequality. We provide evidence on how meritocratic beliefs are shaped by economic status and how they contribute to the moral justification of inequality. In a large-scale survey experiment in the US, we show that success causes a...

Persistent link: https://www.econbiz.de/10014244022

Does financial integration spur economic growth? : New evidence from the first era of financial globalization

Schularick, Moritz; Steger, Thomas M. - 2006

Does international financial integration boost economic growth? The question has been discussed controversially for a long time. As of yet, robust evidence for a positive impact is lacking (Edison et al., 2002). However, there is substantial narrative evidence from economic history that...

Persistent link: https://www.econbiz.de/10010276748

When Pro-Poor Microcredit Institutions Favor Richer Borrowers - A Moral Hazard Story

Biancini, Sara; Venet, Baptiste; Ettinger, David - 2021

We suggest an explanation for the existence of “mission drift”, the tendency for Microfinance Institutions (MFIs) to lend money to wealthier borrowers rather than to the very poor. We focus on the relationship between MFIs and external funding institutions. We assume that both the MFIs and...

Persistent link: https://www.econbiz.de/10013245624

Inequality Undermines Democracy and Growth

Gylfason, Thorvaldur - 2019

growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … and by The Standardized World Income Inequality Database are seen to be correlated with economic diversification, the rule … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …

Persistent link: https://www.econbiz.de/10012892099

The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty

van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022

A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...

Persistent link: https://www.econbiz.de/10014082790

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