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Poverty Traps and Human Capital Accumulation

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  • Ceroni, Carlotta Berti

Abstract

In this paper I show that persistent inequality in the distribution of human capital and a negative relation between initial inequality and steady-state aggregate output may follow from the fact that the poor require relatively higher returns to increase expenditure on education. Moreover, I show that poverty traps emerging in models where individual transitions do not depend on aggregate dynamics, though not robust to the introduction of idiosyncratic uncertainty, may still be relevant observationally, if idiosyncratic shocks occur with low probability. In this context, I also analyse the implications of introducing a public education system. Copyright 2001 by The London School of Economics and Political Science

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 68 (2001)
Issue (Month): 270 (May)
Pages: 203-19

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Handle: RePEc:bla:econom:v:68:y:2001:i:270:p:203-19

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References

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  1. Galor, Oded & Zeira, Joseph, 1988. "Income Distribution and Macroeconomics," MPRA Paper 51644, University Library of Munich, Germany, revised 01 Sep 1989.
  2. Stiglitz, Joseph E, 1969. "Distribution of Income and Wealth among Individuals," Econometrica, Econometric Society, vol. 37(3), pages 382-97, July.
  3. Durlauf, Steven N, 1996. " A Theory of Persistent Income Inequality," Journal of Economic Growth, Springer, vol. 1(1), pages 75-93, March.
  4. Zimmerman, David J, 1992. "Regression toward Mediocrity in Economic Stature," American Economic Review, American Economic Association, vol. 82(3), pages 409-29, June.
  5. Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May.
  6. Galor, O. & Tsiddon, D., 1996. "The Distribution of Human Capital and Economic Growth," Papers 18-96, Tel Aviv - the Sackler Institute of Economic Studies.
  7. Piketty, Thomas, 1997. "The Dynamics of the Wealth Distribution and the Interest Rate with Credit Rationing," Review of Economic Studies, Wiley Blackwell, vol. 64(2), pages 173-89, April.
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Citations

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Cited by:
  1. Rodríguez-Pose, Andrés & Tselios, Vassilis, 2007. "Analysis of Educational Distribution in Europe: Educational Attainment and Inequality Within Regions," Papers DYNREG08, Economic and Social Research Institute (ESRI).
  2. Palivos, Theodore & Varvarigos, Dimitrios, 2011. "Intergenerational complementarities in education, endogenous public policy, and the relation between growth and volatility," MPRA Paper 31343, University Library of Munich, Germany.
  3. Vincenzo Lombardo, 2012. "Social inclusion and the emergence of development traps," Discussion Papers 13_2012, CRISEI, University of Naples "Parthenope", Italy.
  4. Currais, Luis & Rivera, Berta & Rungo, Paolo, 2010. "Effects of the complementarity of child nutrition and education on persistent deprivation," Economics Letters, Elsevier, vol. 106(1), pages 67-69, January.
  5. Bertoli Simone, 2006. "Remittances and the Dynamics of Human Capitalin the Recipient Country," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200607, University of Turin.
  6. Andrés Rodríguez-Pose & Vassilis Tselios, 2007. "Mapping the European regional educational distribution: Educational attainment and inequality," Working Papers 2007-18, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  7. Luis Casanova, 2008. "Trampas de Pobreza en Argentina: Evidencia Empírica a Partir de un Pseudo Panel," CEDLAS, Working Papers 0064, CEDLAS, Universidad Nacional de La Plata.
  8. Lombardo, Vincenzo, 2008. "Poor’s behaviour and inequality traps: the role of human capital," MPRA Paper 14511, University Library of Munich, Germany.

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