The middle-income class plays a crucial role in socio-economic development and in achieving long-term aspirations articulated in Ambisyon 2040, which envisages a predominantly "middle class" society where no one is poor. However, there is no standard definition for the middle income class that...

The paper examines the effect of heterogeneity in individual human capital formation on cross-country income inequality. It considers a two-country model of overlapping generation heterogeneous economies with the following features: (1) individuals are heterogeneous with respect to inborn...

Spurred by international commitments and expanded funding at the national and international level, attendance in education and associated years of schooling have expanded substantially in developing countries in recent years. But has this expansion in enrolments reduced existing inequalities in...