IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/72532.html
   My bibliography  Save this paper

Economic size and debt sustainability against Piketty's capital inequality

Author

Listed:
  • cho, hyejin

Abstract

This article presents a methodology designed to facilitate alternative variables measuring economic growth. A capital-labor split of Cobb-Douglas function is adapted for use in the context of economic growth. A capital/income ratio and two fundamental laws of capitalism originated by Thomas Piketty illustrate capital inequality undervalued with respect to labor inequality. In addition, the article includes export and external debt as strong alternatives. Empirical data of the World Bank are analyzed to demonstrate broad differences in economic sizes. The case analysis on Latin America as an example of different sized economy is also discussed

Suggested Citation

  • cho, hyejin, 2015. "Economic size and debt sustainability against Piketty's capital inequality," MPRA Paper 72532, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:72532
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/72532/1/MPRA_paper_72532.pdf
    File Function: original version
    Download Restriction: no
    File URL: https://mpra.ub.uni-muenchen.de/75795/1/MPRA_paper_72532.pdf
    File Function: revised version
    Download Restriction: no
    File URL: https://mpra.ub.uni-muenchen.de/75796/1/MPRA_paper_72532.pdf
    File Function: revised version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Arndt, H. W., 1985. "The origins of structuralism," World Development, Elsevier, vol. 13(2), pages 151-159, February.
    2. Thomas Perreault & Patricia Martin, 2005. "Geographies of Neoliberalism in Latin America," Environment and Planning A, , vol. 37(2), pages 191-201, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yasunori Fujita, 2015. "A new look at fiscal sustainability: an attempt to reveal the relationship between the sustainability of external debt and the inequality," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 161-165.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:pra:mprapa:56721 is not listed on IDEAS
    2. Hyejin Cho, 2015. "Economic Size and Debt Sustainability against Piketty's Capital Inequality," Post-Print hal-01009465, HAL.
    3. Syrquin, Moshe, 2010. "Kuznets and Pasinetti on the study of structural transformation: Never the Twain shall meet?," Structural Change and Economic Dynamics, Elsevier, vol. 21(4), pages 248-257, November.
    4. Ian Coelho De Souza Almeida, 2018. "The ?Chicago Boys? Intellectual Transfer: A Gramscian Interpretation," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 16, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    5. Rilina Basu & Nandini Das & Ranjanendra Narayan Nag, 2019. "Openness, Inflation and Output Under Alternative Monetary Policies: A Structuralist Approach," Foreign Trade Review, , vol. 54(2), pages 75-90, May.
    6. Ann Varley & Clara Salazar, 2021. "THE IMPACT OF MEXICO’S LAND REFORM ON PERIURBAN HOUSING PRODUCTION: Neoliberal or Neocorporatist?," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(6), pages 964-984, November.
    7. Valeria Guarneros‐Meza, 2009. "Mexican Urban Governance: How Old and New Institutions Coexist and Interact," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 463-482, June.
    8. Noel Castree, 2008. "Neoliberalising Nature: Processes, Effects, and Evaluations," Environment and Planning A, , vol. 40(1), pages 153-173, January.
    9. Adam Rogoda, 2021. "Dekada nowej ekonomii strukturalnej: czym była i co z niej zostało?," Ekonomista, Polskie Towarzystwo Ekonomiczne, issue 5, pages 624-647.
    10. Shenjing He & Guo Chen, 2012. "Interrogating Unequal Rights to the Chinese City," Environment and Planning A, , vol. 44(12), pages 2794-2800, December.
    11. Mauro Boianovsky, 2011. "Furtado and the structuralist-monetarist debate on economic stabilization in Latin America," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 004, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    12. Yoshimichi Murakami & Nobuaki Hamaguchi, 2021. "Peripherality, income inequality, and economic development in Latin American countries," Oxford Development Studies, Taylor & Francis Journals, vol. 49(2), pages 133-148, April.
    13. Benedikt Hora, 2018. "Private Protection Initiatives in Mountain Areas of Southern Chile and Their Perceived Impact on Local Development—The Case of Pumalín Park," Sustainability, MDPI, vol. 10(5), pages 1-22, May.
    14. S. M. Shafaeddin, 2005. "Forum 2005," Development and Change, International Institute of Social Studies, vol. 36(6), pages 1143-1162, November.
    15. Noel Castree, 2006. "From Neoliberalism to Neoliberalisation: Consolations, Confusions, and Necessary Illusions," Environment and Planning A, , vol. 38(1), pages 1-6, January.
    16. Valeria Guarneros‐Meza & Mike Geddes, 2010. "Local Governance and Participation under Neoliberalism: Comparative Perspectives," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 34(1), pages 115-129, March.
    17. Herald Hagemann, 2007. "German-speaking economists in British exile 1933-1945," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 60(242), pages 323-363.
    18. Alexandra Abello-Colak & Valeria Guarneros-Meza, 2014. "The role of criminal actors in local governance," Urban Studies, Urban Studies Journal Limited, vol. 51(15), pages 3268-3289, November.
    19. S.M. Shafaeddin, 2004. "Who Is The Master? Who Is The Servant? Market Or Government? An Alternative Approach: Towards A Coordination System," UNCTAD Discussion Papers 175, United Nations Conference on Trade and Development.
    20. Haselip, James & Potter, Clive, 2010. "Post-neoliberal electricity market 're-reforms' in Argentina: Diverging from market prescriptions?," Energy Policy, Elsevier, vol. 38(2), pages 1168-1176, February.
    21. Mike Geddes, 2010. "Building and Contesting Neoliberalism at the Local Level: Reflections on the Symposium and on Recent Experience in Bolivia," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 34(1), pages 163-173, March.

    More about this item

    Keywords

    capital-labor split; factors of production; capital/income ratio; Thomas Piketty; capitalism; economic size; debt sustainability; Latin America; import substitution industrialization (ISI) model; insolvent external debt; openness; external debt to exports ratio;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G00 - Financial Economics - - General - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:72532. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.