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Publications (9)
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The documented under-representation of marginalized groups in business ownership and the labour market is a concerning issue. This study explores how caste disparities in small-firm entrepreneurship impact on firm performance in India, focusing on the informal sector. Our examination shows a...
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Two well established stylized facts of economic development are a strong correlation between investment and income, and large differences in investment rates across countries. Construction is the largest component of investment. This paper examines the implications of heterogeneity in construction...
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– An exploration based on a multidimensional measure of financial inclusion
Using a nationally representative household survey data set from Ghana, this paper provides empirical evidence regarding the role of financial inclusion or financial exclusion in household welfare. We first compute a multidimensional index of financial inclusion, and then we examine the effect of...
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This paper examines the income inequality implications of a ‘premature deindustrialization’ trend in middle-income countries. To identify the premature deindustrialization phase, we arrive at five conditions based on the trends in employment and value-added share of manufacture. Among these five...
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– New evidence on the relationship between structural transformation and inequality
We examine the Kuznets postulate that structural transformation leads to higher inequality using comparable panel data for a large number of developing and developed countries for 1960–2012. Countries are in different stages of structural transformation, being either structurally under-developed...
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We provide an axiomatic treatment of the measurement of economic insecurity, assuming that individual insecurity depends on the current wealth level and its variations experienced in the past. The first component plays the role of a buffer stock to rely on in case of an adverse future event. The...
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This paper examines the measurement of social welfare, poverty and inequality taking into account features that have been found to be important welfare determinants in behavioural economics. Most notably, we incorporate reference-dependence, loss aversion and diminishing sensitivity—aspects...
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In the presence of inequality a status-driven utility function reconciles the conflict between income-based and nutrition-based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in the developing countries. The result is independent of the...
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– Contrasting Rational Choice and Behavioural Perspectives
Based on the standard axiom of individual utility maximization, rational choice has postulated that higher income inequality translates into greater redistribution by shaping the median voter’s preferences. While numerous papers have tested this proposition, the literature has remained divided over...
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