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While substantial research finds that financial development boosts overall economic growth, the authors study whether financial development is pro-poor: Does financial development disproportionately raise the income of the poor? Using a broad cross-country sample, the authors find that the...
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rest of the world. Second, this convergence process will be accompanied by a widening of income distribution in two …
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developing world economy grew at more than 3.5 percent per capita in the 1990s. Trend #2: The number of poor people in the world … developing world population living on less than $1 per day was cut in half since 1981. Trend #3: Global inequality (among … citizens of the world) has declined - modestly -- reversing a 200-year-old trend toward higher inequality. Trend #4: There is …
Persistent link: https://www.econbiz.de/10012559833
Just as equality of opportunity becomes an increasingly prominent concept in normative economics, the authors argue that it is also a relevant concept for positive models of the links between distribution and aggregate efficiency. Persuasive microeconomic evidence suggests that inequalities in...
Persistent link: https://www.econbiz.de/10012553642
The authors study the sources and pattern of China's impressive economic growth over the past 25 years and show that key issues currently of concern to policymakers-widening inequality, rural poverty, and resource intensity-are to a large extent rooted in China's growth strategy, and resolving...
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The author analyzes the stability of the empirical relationship between growth and changes in inequality over time. He concludes that while during the 1970s and 1980s the growth process was not accompanied by increases in inequality, during the 1990s a positive and significant correlation...
Persistent link: https://www.econbiz.de/10012553755
Growth is pro-poor if the poverty measure of interest falls. According to this definition there are three potential sources of pro-poor growth: (1) a high rate of growth of average incomes; (2) a high sensitivity of poverty to growth in average incomes; and (3) a poverty-reducing pattern of...
Persistent link: https://www.econbiz.de/10012559706