curve, lorenz INCOME INEQUALITIES IN PAKISTAN AND A STRATEGY TO REDUCE INCOME INEQUALITIES. INCOME INEQUALITIES IN PAKISTAN AND A.Full text not available from this repository.
The basic objective of economic development is improvements in the living standards of the common man and for that just economic growth would not be sufficient. This is because the growth and income distribution jointly determine improvements in the living standards of the common man. Unfortunately with an increase in poverty during the 1990s, focus of research shifted to estimation of the proportion of the poor and of the policymakers to reduce the proportion of the poor population rather than taking appropriate measures to improve income distribution. That income distribution worsens in initial stages of economic growth and is followed by improvements in income distribution later is a phenomenon known as Kuznet Curve. The phenomenon is believed to arise because of movements of labour from a more egalitarian agricultural sector to the industrial sector where higher income opportunities are exploited by the few. [See Kuznets (1955,1963)]. Kuznet curve, however, may be the result of various other mechanisms as well. For example Greenwood and Jovanovich (1990) point out that financial sector development may increase income inequalities in the initial stages when only a few have access to the bank credit and fall as more people are able to access the formal credit1. The Kuznet curve can also be result of the development of democratic institutions; income inequality rises initially with the establishment of democratic institutions as elite formulate the policies for their own benefit but income distributions starts improving as the democratic institutions mature2.
|Subjects:||A General Works > AC Collections. Series. Collected works
A General Works > AI Indexes (General)
|Depositing User:||miss anam islam|
|Date Deposited:||22 May 2013 09:08|
|Last Modified:||22 May 2013 09:08|
Actions (login required)