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Publications (6)
Research on how income inequality affects borrowing behaviour reignited after the 2008 global recession. One prevailing theory is that rising income inequality in the US and other high-income economies eroded real household incomes and prompted more and more borrowing. This growing debt culminated...
Working Paper
pdf
– Examining the impact of relative income on formal and informal debt in South Africa
How does income inequality impact the propensity for and levels of formal and informal household debt? This paper assesses this question using the two most recent waves of the South African Living Conditions Survey. A range of linear models as well as a zero-inflated Poisson model are employed, and...
Book Chapter
From the book:
The Role of Elites in Economic Development
Book Chapter
– An Augmented Endowments-Inequality Hypothesis and the Rise of an Elite in the Cape Colony
From the book:
The Role of Elites in Economic Development
Working Paper
pdf
The arrival of European settlers at the Cape in 1652 marked the beginning of what would become an extremely unequal society. Comparative analysis reveals that certain endowments exist in societies that experience a ‘persistence of inequality’. This paper shows that the emphasis on endowments may be...
Working Paper
pdf
Particular sets of institutions, once they become established in a society, have a strong tendency to persist. In this paper I argue that understanding how elites form and reproduce is key to understanding the persistence of institutions over time. I illustrate this idea with a simple political...
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