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Growth and Distribution: A Guyana Case Study

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  • Constantine, Collin

Abstract

The principal contribution of this article is that it provides evidence of recent trends of inequality in Guyana, but the article goes beyond this and describes the evolution of inequality since 1974 to 2013. This is done within a Kaleckian framework to derive profit and wage rates, since recent Gini coefficients data are absent. The evidence implies that inequality is on the rise. The article argues that the mining and quarrying sector regulates Guyana’s growth performance and ignites growth in the non-tradable services sector, which are characterized by low-wage-low-employment opportunities. Thus, a greater share of the gains in income in these sectors goes to profits when growth is sustained.

Suggested Citation

  • Constantine, Collin, 2014. "Growth and Distribution: A Guyana Case Study," MPRA Paper 58882, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:58882
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    File URL: https://mpra.ub.uni-muenchen.de/58882/1/MPRA_paper_58882.pdf
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    References listed on IDEAS

    as
    1. Thomas Herndon & Michael Ash & Robert Pollin, 2014. "Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff," Cambridge Journal of Economics, Oxford University Press, vol. 38(2), pages 257-279.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
    3. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    inequality; Kaleckian framework; Guyana; growth;

    JEL classification:

    • D30 - Microeconomics - - Distribution - - - General
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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