Inequality Human Capital Formation And The Process Of Development PDF Download
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Author | : Oded Galor |
Publisher | : |
Total Pages | : 62 |
Release | : 2011 |
Genre | : Economics |
ISBN | : |
Download Inequality, Human Capital Formation and the Process of Development Book in PDF, ePub and Kindle
Abstract: Conventional wisdom about the relationship between income distribution and economic development has been subjected to dramatic transformations in the past century. While classical economists advanced the hypothesis that inequality is beneficial for growth, the neoclassical paradigm dismissed the classical hypothesis and suggested that income distribution has limited role in the growth process. A metamorphosis in these perspectives has taken place in the past two decades. Theory and subsequent empirical evidence have demonstrated that income distribution has a significant impact on human capital formation and the development process. In early stages of industrialization, as physical capital accumulation was a prime engine of growth, inequality enhanced the process of development by channeling resources towards individuals whose marginal propensity to save is higher. In later stages of development, however, as human capital has become a main engine of growth, equality, in the presence of credit constraints, has stimulated human capital formation and growth. Moreover, unequal distribution of land has been a hurdle for economic development. While industrialists have had an incentive to support education policies that foster human capital formation, landowners, whose interests lay in the reduction of the mobility of their labor force, have favored policies that deprived the masses of education.
Author | : Oded Galor |
Publisher | : |
Total Pages | : 0 |
Release | : 2002 |
Genre | : |
ISBN | : |
Download From Physical to Human Capital Accumulation Book in PDF, ePub and Kindle
This paper develops a unified theory for the dynamic implications of income inequality on the process of development. The proposed theory argues that the replacement of physical capital accumulation by human capital accumulation as a prime engine of economic growth has changed the qualitative impact of inequality on the process of development. In early stages of industrialization as physical capital accumulation is a prime source of economic growth, inequality enhances the process of development by channeling resources towards individuals whose marginal propensity to save is higher. In later stages of development, however, as the return to human capital increases due to capital-skill complementarity, human capital becomes the prime engine of growth and equality, in the presence of credit constraints, stimulates investment in human capital and promotes economic growth. As wages increase, however, credit constraints become less binding, differences in the marginal propensity to save decline and the aggregate effect of income distribution on the growth process becomes therefore less significant.
Author | : Theo S. Eicher |
Publisher | : MIT Press |
Total Pages | : 343 |
Release | : 2007-01-26 |
Genre | : Business & Economics |
ISBN | : 0262550644 |
Download Inequality and Growth Book in PDF, ePub and Kindle
Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.
Author | : Oded Galor |
Publisher | : Edward Elgar Publishing |
Total Pages | : 0 |
Release | : 2009 |
Genre | : Distributive justice |
ISBN | : 9781847206763 |
Download Inequality and Economic Development Book in PDF, ePub and Kindle
Analyses the importance of inequality and development. This book explores human capital formation, gender inequality, landownership, ethical division and political transitions.
Author | : O.Moav Galor (O) |
Publisher | : |
Total Pages | : 46 |
Release | : 1999 |
Genre | : |
ISBN | : |
Download From Physical to Human Capital Accumulation Book in PDF, ePub and Kindle
Author | : DR SANTANU RAY CHAUDHURI |
Publisher | : Blue Rose Publishers |
Total Pages | : 336 |
Release | : 2023-08-03 |
Genre | : Social Science |
ISBN | : |
Download ECONOMIC INEQUALITY AND GROWTH A new look through Human Capital as you designed and shown Book in PDF, ePub and Kindle
This book tries to portray the link between economic inequality and long-run growth via human capital and the major take of the book is to analyze the growth panorama through the lens of the ‘idea’ or ‘knowledge’ generation’ which is eventually considered as the ‘engine of growth’ being fueled by productivity enhancement through the innovations of new technologies. But this is not the end of the story as it involves enormous controversies. Simply the controversy started with the basic question --- why are some countries richer than other countries? To put it in another way, why growth is a miracle, why it is not driven homogeneously for economies, or whether the economies would converge or not? Another issue is predominantly crucial, that is, economic inequality in the process of economic expansion. In this context, the present book has given emphasis in explaining the selective growth theories starting from classical foundation to new growth theories including their inner implications in the passage of history of economic growth. In consequence, the vast landscape of theoretical contours about political philosophies and model analyses of economic growth including diverse generic versions of the said link between economic expansion and distribution are explained, and, the most important feature of the textbook is that the link is explored by focusing on a single factor, human capital. The prime emphasis of the present textbook is to look at the link between growth, inequality and human capital accumulation and their resultant outcomes in a new way as New Look by substantiating the issue through empirical analyses relating to the Indian States. The whole journey of the book consists of the political philosophy, models and empirics, the trio, without which the all-around venture of economic theories would become incomplete. For this reason, the whole perspective of empirical analysis is done to keep in mind the necessities of the learners such that they should not feel awkward with a set of data. It is, in that context, the empirical and structural issues are taken up to make the issues distinctively clearer with the presumption that the whole perspective would become, then, more delightful and easy to digest.
Author | : Bert Richly Brinkenberg |
Publisher | : |
Total Pages | : 30 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Inequality, Human-capital Formation, and Growth Book in PDF, ePub and Kindle
Author | : Alberto Bucci |
Publisher | : Springer Nature |
Total Pages | : 384 |
Release | : 2019-11-26 |
Genre | : Business & Economics |
ISBN | : 3030215997 |
Download Human Capital and Economic Growth Book in PDF, ePub and Kindle
This edited collection explores the links between human capital (both in the form of health and in the form of education), demographic change, and economic growth. Using empirical as well as theoretical perspectives, the authors investigate several important issues in the context of human capital, namely population ageing, inequality, public policy, and long-term economic development. Ultimately, they demonstrate that the accumulation of human capital is of crucial importance to long-run economic growth.
Author | : Jean-Marie Viaene |
Publisher | : |
Total Pages | : 30 |
Release | : 2001 |
Genre | : |
ISBN | : |
Download Human Capital Formation, Income Inequality and Growth Book in PDF, ePub and Kindle
Author | : Shenggen Fan |
Publisher | : Routledge |
Total Pages | : 273 |
Release | : 2009-04 |
Genre | : Business & Economics |
ISBN | : 1135972257 |
Download Regional Inequality in China Book in PDF, ePub and Kindle
As regional inequality looms large in the policy debate in China, this volume brings together a selection of papers from authors whose work has had real impact on policy, so that researchers and policy makers can have access to them in one place.