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Growth, Inequality and Economic Freedom : Evidence from the US States

Bjørnskov, Christian - 2015

This paper returns to the discussion of how income inequality affects economic growth. The main argument is that economic freedom is likely to affect the association although the relations are theoretically ambiguous. In a panel of 300 observations from five-year periods across the 50 US states,...

Persistent link: https://www.econbiz.de/10013012727

Federal, State, and Local Governments: Evaluating their Separate Roles in US Growth

Higgins, Matthew; Young, Andrew; Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2009

We use US county level data (3,058 observations) from 1970 to 1998 to explore the relationship between economic growth and the extent of government employment at three levels: federal, state and local. We find that increases in federal, state and local government employments are all negatively...

Persistent link: https://www.econbiz.de/10005616935

Endogenous Growth: A Kaldorian Approach

Setterfield, Mark - Department of Economics, Trinity College - 2010

This chapter explores the Kaldorian approach to endogenous growth theory. The central principles of this approach are explored, including the claims that growth is: (a) demandled, with trade playing a central role in aggregate demand formation; and (b) pathdependent. It is shown that both the...

Persistent link: https://www.econbiz.de/10008572612

Structural change and income distribution: An inverted-U relationship

Patriarca, Fabrizio; Vona, Francesco - In: Journal of Economic Dynamics and Control 37 (2013) 8, pp. 1641-1658

This paper constructs a disequilibrium model in order to analyse the structural transition characterized by the emergence of a new sector. We show that, in an economy where preferences and technology adapt over time, multiple long-term outcomes are mainly brought about by different distributive...

Persistent link: https://www.econbiz.de/10010679081

Structural Change and the Income Distribution: a Post-Keynesian disequilibrium model

Patriarca, Fabrizio; Vona, Francesco - Facoltà di Economia, Università degli Studi di Roma … - 2009

This paper extends the out-of-equilibrium literature to analyse a structural transition characterized by the emergence of a new sector that satisfies a want lower in the hierarchical scale. In particular, the dynamic interaction demand-supply can be a source of multiple long-run outcomes if both...

Persistent link: https://www.econbiz.de/10008559945

Institutions and Poverty: A Critical Comment Based on Evolving Currents and Debates

Asongu, Simplice A.; Kodila-Tedika, Oasis - 2014

Tebaldi & Mohan (2010, JDS) have established an empirical nexus between institutions and monetary poverty. We first … underlying study that institutions could have an indirect effect on multidimensional poverty. In other words, the poverty … eradication effect of institutions is through income-average as opposed to income-inequality. We discuss the confirmed findings in …

Persistent link: https://www.econbiz.de/10011390893

Values and norms matter: on the basic determinants of long-run economic development

Voigt, Stefan; Park, Sang-Min - 2008

Over the last couple of decades, it has become a commonplace to claim that institutions matter" for economic … development. Yet, institutions are not exogenous but the result of hu-man action. It is argued here that the values and norms held … by substantial parts of society’s members are an important determinant of its institutions. It is further argued that …

Persistent link: https://www.econbiz.de/10010330089

Do Weak Institutions Prolong Crises? On the Identification, Characteristics, and Duration of Declines during Economic Slumps

Bluhm, Richard; de Crombrugghe, Denis; Szirmai, Adam - 2014

institutions precede crises and, interestingly, positive reforms occur thereafter. Strong institutions shorten the duration of … interaction effect suggests they can be offset by appropriate institutions. …

Persistent link: https://www.econbiz.de/10010333418

The Poor, the Rich and the Enforcer: Institutional Choice and Growth

Koeppl, Thor; Monnet, Cyril; Quintin, Erwan - 2007

We study economies where improving the quality of institutions - modeled as improving contract enforcement - requires …

Persistent link: https://www.econbiz.de/10011940764

Did Africa's first choices matter? Growth legacies of leaders at independence

Jørgensen, Christina Mangaard; Bjørnskov, Christian - 2015

We explore the potential effects of the first leaders of Sub-Saharan Africa. We first outline a set of theoretical reasons for why leaders may matter particularly at the critical juncture of African independence and why this influence may be persistent. In an unbalanced panel from 40 African...

Persistent link: https://www.econbiz.de/10011442480