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Assessing growth, inequality, and poverty in the long-run : the case of Spain

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  • Prados de la Escosura, Leandro

Abstract

Growth and inequality over the long-run are assessed and their impact on poverty calibrated on the basis of López and Servén (2005) recent empirical research. Spain's per capita income multiplied by 15 between 1850 and 2000, while private consumption per person did it by 12, but did such a growth have an impact on absolute poverty reduction? The paper concludes that long-run growth, to a larger extent, together with a mild decline in inequality, led to a substantial reduction in absolute poverty during the last one and a half centuries. In a comparative framework, Spain shadowed Latin American poverty until the 1960s when she initiated a sustained process of convergence to Western European levels.

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  • Prados de la Escosura, Leandro, 2005. "Assessing growth, inequality, and poverty in the long-run : the case of Spain," IFCS - Working Papers in Economic History.WH wh054205, Universidad Carlos III de Madrid. Instituto Figuerola.
  • Handle: RePEc:cte:whrepe:wh054205
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    1. Eichengreen, Barry & Uzan, Marc, 1992. "The Marshall Plan: Economic Effects and Implications for Eastern Europe and the Former USSR," CEPR Discussion Papers 638, C.E.P.R. Discussion Papers.
    2. de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March.
    3. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, January.
    4. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
    5. N. F. R. Crafts, 2000. "Globalization and Growth in the Twentieth Century," IMF Working Papers 00/44, International Monetary Fund.
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