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The authors reexamine the role of financial market development in the intersectoral allocation of resources. First, they characterize the assumptions underlying previous work in this area, in particular, that of Rajan and Zingales (1998). The authors argue that Rajan and Zingales (1998)...
Persistent link: https://www.econbiz.de/10005128915
Output collapses, and crises are a fact of life. Severe economic downturns occur periodically, and have grave consequences on the poor. The authors propose a new measurement for economic downside risk, and severity: Growth at risk. Similar to the concept of Value at Risk in finance, Growth at...
Persistent link: https://www.econbiz.de/10004989914
Political change marked the difference between the approaches of the countries of Eastern Europe and the former Soviet Union (FSU). The Baltics and most Eastern European countries wanted to break away from communism and the FSU domination--so their transition was characterized first by political...
Persistent link: https://www.econbiz.de/10005116043
The authors investigate the dynamics of poverty and income inequality in a cross-section of socio-economic groups and … rapidly increasing urban poverty accompanied by rising income inequality, declining poverty -growth elasticities, and … significant changes in the poverty map. In rural areas, the incidence of poverty remained the same and income inequality did not …
Persistent link: https://www.econbiz.de/10005116263
Do the poor face the same prospects for escaping poverty in high-inequality developing countries as in low-inequality … countries? Is it possible for inequality to be so great as to stifle prospects of reducing absolute poverty, even when other … distribution does affect how much the poor share in rising average incomes. Higher initial inequality tends to reduce growth …
Persistent link: https://www.econbiz.de/10005134154
-poor (including the role played by both initial inequality and changing inequality), and whether the factors that make the …
Persistent link: https://www.econbiz.de/10005134165
It is important to know how aggregate economic growth or contraction was distributed according to initial levels of living. In particular, to what extent can it be said that growth was"pro-poor?"There are problems with past methods of addressing this question, notably that the measures used are...
Persistent link: https://www.econbiz.de/10005106895
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/10004989724
After years of poor economic performance, many Latin American countries undertook ambitious programs of macroeconomic stabilization andstructural reform in recent years. This change in policy created high expectations for the region, and some observers have questioned whether actual growth...
Persistent link: https://www.econbiz.de/10005129321
evaluation of the impact of a series of pro-growth policies on inequality and headcount poverty. He relies on a large … the policies under consideration on growth, inequality, and poverty. The author's findings indicate that regardless of … their impact on inequality, pro-growth policies lead to lower poverty levels in the long run. However, he also finds …
Persistent link: https://www.econbiz.de/10005134336