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Finance and income inequality : test of alternative theories
Clarke, George; Xu, Lixin Colin; Zou, Heng-fu - Economics Research, World Bank Group - 2003
income inequality, little empirical research has been conducted to compare their relative explanatory power. The authors … examine the relation between financial intermediary development and income inequality in a panel data set of 91 countries for … the period 1960-95. Their results provide evidence that inequality decreases as economies develop their financial …
Persistent link: https://www.econbiz.de/10005128634
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The spirit of capitalism and long-run growth
Zou, Heng-fu - Economics Research, World Bank Group - 1991
Why do different countries have different long-term savings and growth rates? Why is the productivity rate not the same around the world? Recent new theories of endogenous growth have tried to answer these questions by replacing the usual assumption of diminishing returns in production. The...
Persistent link: https://www.econbiz.de/10005141826
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Foreign technology imports and economic growth in developing countries
Zhang, Xiaoming; Zou, Heng-fu - Economics Research, World Bank Group - 1995
The authors investigate the relationship between foreign technology imports and economic growth in developing countries. They develop an intertemporal endogenous growth model that explicitly accepts foreign technology imports as a factor of production. The model establishes a link between the...
Persistent link: https://www.econbiz.de/10005106928
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What do governments buy? The composition of public spending and economic performance
Devarajan, Shantayanan; Swaroop, Vinaya; Zou, Heng-fu - Economics Research, World Bank Group - 1993
The authors develop a simple analytical framework that shows how the composition of public spending affects economic growth. Distinguishing between productive and unproductive government spending (that which complements private sector productivity and that which does not), they show that...
Persistent link: https://www.econbiz.de/10004989807