The Political Economy of Inclusive Rural Growth
AbstractAbstract Commentators on the `East Asian Miracle' of inclusive growth have often pointed toward shared rural growth policies. But why were these policies not chosen elsewhere? This paper models voters who invest in either subsistence or a complex technology in which public goods complement private capital. Investment and technology choices vary with wealth and the level of public goods enforced by political lobbies. Outcomes depend on the strength of the incipient middle class who bolster political incentives through contributions. Economies with a stronger middle class due to lower inequality or lower risk may thereby sustain higher productivity through public good provision.
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Bibliographic InfoPaper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp1259.
Date of creation: Feb 2014
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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP
Poverty traps; political economy; inequality; lobby formation;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- D2 - Microeconomics - - Production and Organizations
- H4 - Public Economics - - Publicly Provided Goods
- Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
This paper has been announced in the following NEP Reports:
- NEP-AGR-2014-03-08 (Agricultural Economics)
- NEP-ALL-2014-03-08 (All new papers)
- NEP-CDM-2014-03-08 (Collective Decision-Making)
- NEP-GRO-2014-03-08 (Economic Growth)
- NEP-PBE-2014-03-08 (Public Economics)
- NEP-POL-2014-03-08 (Positive Political Economics)
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