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Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
Persistent link: https://www.econbiz.de/10010324788
Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
Persistent link: https://www.econbiz.de/10011325967
uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It … impact of higher inequality on the aggregate human capital stock, and thus, on growth may be positive. This result rests on …
Persistent link: https://www.econbiz.de/10010261651
in the inequality and growth literature. These include growth, openness, wages, and liberalisation. We review the … existing cross-country empirical evidence on the effects of inequality on growth and the extent to which the poorest in society … benefit from economic growth. The linkage between growth, redistribution and poverty is also analysed. In the review of …
Persistent link: https://www.econbiz.de/10010262079
Within the context of the neoclassical growth model I investigate the implications of (initial) endowment inequality …
Persistent link: https://www.econbiz.de/10010316050
This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per … factors that have governed the pace of the transition from stagnation to growth and have thus contributed to contemporary … variation in economic development. It uncovers the forces that have sparked the emergence of multiple growth regimes and …
Persistent link: https://www.econbiz.de/10010284035
The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of … technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The … capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …
Persistent link: https://www.econbiz.de/10010510592
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011305273
After many years of relatively slow growth, Tanzania's national accounts data report accelerated aggregate growth since … around 2000. Our analysis shows that there has been somewhat slower growth in private consumption and in sectors such as …
Persistent link: https://www.econbiz.de/10010528633
Ghana is relatively rare among Sub-Saharan African countries in having had sustained positive growth every year since … the mid-1980s. This paper analyses the nature of the growth and then presents an analysis of the evolution of both …-monetary outcomes, remains an important concern. This increase in inequality is one reason why growth has not led to faster poverty …
Persistent link: https://www.econbiz.de/10010531063