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Poverty Traps and Human Capital Accumulation

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  • C. Berti Ceroni

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

Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 315.

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Date of creation: Apr 1998
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Handle: RePEc:bol:bodewp:315

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References

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  1. Galor, Oded & Tsiddon, Daniel, 1997. " The Distribution of Human Capital and Economic Growth," Journal of Economic Growth, Springer, vol. 2(1), pages 93-124, March.
  2. Durlauf, S.N., 1992. "A Theory of Persistent Income Inequality," Papers 47, Stanford - Institute for Thoretical Economics.
  3. Joseph E. Stiglitz, 1967. "Distribution of Income and Wealth Among Individuals," Cowles Foundation Discussion Papers 238, Cowles Foundation for Research in Economics, Yale University.
  4. Bourguignon, Francois, 1981. "Pareto Superiority of Unegalitarian Equilibria in Stiglitz' Model of Wealth Distribution with Convex Saving Function," Econometrica, Econometric Society, vol. 49(6), pages 1469-75, November.
  5. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Wiley Blackwell, vol. 60(1), pages 35-52, January.
  6. Zimmerman, David J, 1992. "Regression toward Mediocrity in Economic Stature," American Economic Review, American Economic Association, vol. 82(3), pages 409-29, June.
  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.
  8. Loury, Glenn C, 1981. "Intergenerational Transfers and the Distribution of Earnings," Econometrica, Econometric Society, vol. 49(4), pages 843-67, June.
  9. 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.
  10. Masao Ogaki & Andrew Atkeson, 1997. "Rate Of Time Preference, Intertemporal Elasticity Of Substitution, And Level Of Wealth," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 564-572, November.
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Cited by:
  1. Rodrigo Arim & Matías Brum & Andrés Dean & Martín Leites & Gonzalo Salas, 2010. "Movilidad de ingreso y trampas de pobreza : nueva evidencia para los países del Cono Sur," Documentos de Trabajo (working papers) 10-06, Instituto de Economía - IECON.
  2. Hanjra, Munir A. & Ferede, Tadele & Gutta, Debel Gemechu, 2009. "Reducing poverty in sub-Saharan Africa through investments in water and other priorities," Agricultural Water Management, Elsevier, vol. 96(7), pages 1062-1070, July.
  3. Anastasia Litina & Theodore Palivos, 2011. "Explicating Corruption and Tax Evasion:Reflections on Greek Tragedy," Discussion Paper Series 2011_07, Department of Economics, University of Macedonia, revised May 2011.
  4. 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).
  5. Vincenzo Lombardo, 2012. "Social inclusion and the emergence of development traps," Discussion Papers 13_2012, CRISEI, University of Naples "Parthenope", Italy.
  6. Theodore Palivos & Dimitrios Varvarigos, 2009. "Education and Growth: A Simple Model with Complicated Dynamics," Discussion Paper Series 2009_08, Department of Economics, University of Macedonia, revised Apr 2009.
  7. 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.
  8. Theodore Palivos & Dimitrios Varvarigos, 2009. "Intergenerational Complementarities in Education and the Relationship between Growth and Volatility," Discussion Paper Series 2009_05, Department of Economics, University of Macedonia, revised Mar 2009.
  9. 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.
  10. Athanasios Lapatinas & Anastasia Litina & Eftichios S. Sartzetakis, 2011. "Corruption and Environmental Policy: An Alternative Perspective," Working Papers 2011.23, Fondazione Eni Enrico Mattei.
  11. Vincenzo Lombardo, 2008. "Poor's behaviour and inequality traps: the role of human capital," Working Papers 10_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
  12. 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.
  13. Theodore Palivos & Dimitrios Varvarigos, 2013. "Intergenerational Complementarities in Education, Endogenous Public Policy, and the Relation Between Growth and Volatility," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 15(2), pages 249-272, 04.
  14. 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.

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