Economic Growth And Income Disparity In Bric: Theory And Empirical Evidence, 1st Edition

  • Published By: World Scientific Publishing Company
  • ISBN-10: 9814415928
  • ISBN-13: 9789814415927
  • DDC: 339.2
  • Grade Level Range: College Freshman - College Senior
  • 168 Pages | eBook
  • Original Copyright 2013 | Published/Released January 2015
  • This publication's content originally published in print form: 2013

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The recent interest in the development processes of BRIC countries (Brazil, Russia, India and China) has been triggered by their high growth performance, but their political and social backgrounds are entirely different. This book traces the economic history of BRIC countries to understand their economic and social institutions. The only common theme in this growth story is the high levels of income disparities and poverty that are observed even during the high growth decades. In order to understand the interaction between economic growth, income inequality and poverty, the book develops a theoretical framework that incorporates a mechanism of uniform income transfers in a growth model, where economic growth is the result of accumulation. Income transfer mechanism operates in all countries in the form of a progressive taxation system, pension funds, governments anti-poverty programs, employment guarantee schemes, land reforms, etc. It is not necessarily true that such income transfers would invariably reduce growth rates.

Table of Contents

Front Cover.
Half Title Page.
Title Page.
Copyright Page.
About the Authors.
1: Introduction: BRIC and the World Economy.
2: Political and Economic History of BRIC.
3: Economic Growth, Income Inequality, and Poverty.
4: Descriptive Statistics and Basic Regression Estimates for BRIC.
5: Growth and Inequality in BRIC: Econometric Estimation.