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Wealth Distribution and the Big Push

Author

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  • Zoubir Benhamouche

    (EPEE, Université d'Evry Val d'Essonne)

Abstract

This paper reexamines the Rosenstein-Rodan idea of the Big Push but from the supply side view. We incorporate education in a model of the Big Push where industrialization requires skilled labor. We show that initially unequal distribution of wealth can prevent the economy from taking a sustainable industrialization path. Moreover, financial imperfections, by affecting the elasticity of skill supply, imposes a constraint on the set of technologies that can be adopted. In particular, credit imperfections can support selffulfiling beliefs that can either put the economy on a high productivity equilibrium or a low productivity equilibrium. Finally, in this context, it is shown that the new organizational innovations in the North may widen the productivity gap between North and South.

Suggested Citation

  • Zoubir Benhamouche, 2000. "Wealth Distribution and the Big Push," Documents de recherche 00-01, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    • Handle: RePEc:eve:wpaper:00-01
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    More about this item

    Keywords

    Income Distribution; Credit Constraints; Human Capital; Productivity Differences;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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