Economic transition and the distributions of income and wealth
Using a model of wealth distribution dynamics and occupational choice, the author investigates the distributional consequences of policies and developments associated with the transition from central planning to a market system. The model suggests that even an efficient privatization designed to be egalitarian may lead to increases in inequality (and possibly poverty), both during the transition and in the new steady state. Creating new markets in services that are also supplied by the public sector may also contribute to an increase in inequality. So can labor market reforms that lead to a decompression of the earnings structure and to greater flexibility in employment. The results underline the importance of retaining government provision of basic public goods and services, removing barriers that prevent the participation of the poor in the new private sector, and ensuring that suitable safety nets are in place.
|Date of creation:||31 Aug 1997|
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- Bénabou, Roland, 1996.
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The Economics of Transition,
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41, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
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Cambridge University Press, number 9780521433297, 1.
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- repec:oup:restud:v:60:y:1993:i:1:p:35-52 is not listed on IDEAS
- Thesia I. Garner & Katherine Terrell, 1997. "Changes in Distribution and Welfare in Transition Economies: Market vs. Policy in the Czech Republic and Slovakia," William Davidson Institute Working Papers Series 77, William Davidson Institute at the University of Michigan.
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