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Full-Text Articles in Social and Behavioral Sciences
Decomposing Ldc Inequality, Gary S. Fields
Decomposing Ldc Inequality, Gary S. Fields
Gary S Fields
[Excerpt] At the present time, there is great interest among development economists in the problem of economic inequality in less developed countries (LDCs). Studies of the determinants of inequality follow either of two general approaches. The more traditional approach is associated with names like Kuznets (1963), Chenery and associates (1960, 1968, 1975), Adelman and Morris (1973), Ahluwalia (1976) and Chiswick (1971). These studies share a common methodology, consisting basically of looking at a cross-section of countries, and (1) measuring the degree of inequality in each, (2) measuring other characteristics of each country (e.g., level of GNP, its rate of growth, …
Private Returns And Social Equity In The Financing Of Higher Education, Gary S. Fields
Private Returns And Social Equity In The Financing Of Higher Education, Gary S. Fields
Gary S Fields
[Excerpt] A widespread phenomenon in developing countries has been the rapid growth of schools and institutions of higher learning resulting in a so-called ‘education explosion’. One possible explanation for the education explosion is that education is a profitable personal investment, as evidenced by high private rates of return. The high private returns are translated into demands on politicians for additional schooling spaces. To gain or maintain public favour, each politician uses his influence to try to increase the number of schools in his constituency. By this chain of events, growth of educational systems might be anticipated as long as private …
Changes In Poverty And Inequality In Developing Countries, Gary S. Fields
Changes In Poverty And Inequality In Developing Countries, Gary S. Fields
Gary S Fields
This paper presents new data on poverty, inequality, and growth in those developing countries of the world for which the requisite statistics are available. Economic growth is found generally but not always to reduce poverty. Growth, however, is found to have very little to do with income inequality. Thus the "economic laws" linking the rate of growth and the distribution of benefits receive only very tenuous empirical support here.
Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Saule T. Omarova
The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …