Inequality, Growth, and Poverty in an Era of Liberalization and Globalization

Paperback | June 16, 2005

EditorGiovanni Andrea Cornia

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Within-country income inequality has risen since the early 1980s in most of the OECD, all transitional, and many developing countries. More recently, inequality has risen also in India and nations affected by the Asian crisis. Altogether, over the last twenty years, inequality worsened in 70per cent of the 73 countries analysed in this volume, with the Gini index rising by over five points in half of them. In several cases, the Gini index follows a U-shaped pattern, with the turn-around point located between the late 1970s and early 1990s. Where the shift towards liberalization andglobalization was concluded, the right arm of the U stabilized at the 'steady state level of inequality' typical of the new policy regime, as observed in the UK after 1990. Mainstream theory focusing on rises in wage differentials by skill caused by either North-South trade, migration, or technological change poorly explains the recent rise in income inequality. Likewise, while the traditional causes of income polarization-high land concentration, unequal access toeducation, the urban bias, the 'curse of natural resources'-still account for much of cross-country variation in income inequality, they cannot explain its recent rise. This volume suggests that the recent rise in income inequality was caused to a considerable extent by a policy-driven worsening in factorial income distribution, wage spread and spatial inequality. In this regard, the volume discusses the distributive impact of reforms in trade and financialliberalization, taxation, public expenditure, safety nets, and labour markets. The volume thus represents one of the first attempts to analyse systematically the relation between policy changes inspired by liberalization and globalization and income inequality. It suggests that capital accountliberalization appears to have had-on average-the strongest disequalizing effect, followed by domestic financial liberalization, labour market deregulation, and tax reform. Trade liberalization had unclear effects, while public expenditure reform often had positive effects.

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Within-country income inequality has risen since the early 1980s in most of the OECD, all transitional, and many developing countries. More recently, inequality has risen also in India and nations affected by the Asian crisis. Altogether, over the last twenty years, inequality worsened in 70per cent of the 73 countries analysed in this...

Giovanni Andrea Cornia is currently professor of economics at the University of Florence. Before this, he was the Director of the World Institute for Development Economics Research (UNU/WIDER) in Helsinki (1995-2000), and Director of the Economic and Social Policy Research Programme at the International Child Development Centre (the w...

other books by Giovanni Andrea Cornia

Format:PaperbackDimensions:460 pages, 9.21 × 6.06 × 1.01 inPublished:June 16, 2005Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199284105

ISBN - 13:9780199284108

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Table of Contents

PART I: INCOME DISTRIBUTION TRENDS,THEORIES AND POLICIES1. Giovanni Andrea Cornia: Inequality, Growth and Poverty: An Overview of Changes over the Last Two Decades2. Giovanni Andrea Cornia, Tony Addison and Sampsa Kiiski: Income Distribution Changes and Their Impact in the Post-World War II periodPART II: TRADITIONAL CAUSES OF INEQUALITY: STILL RELEVANT FOR EXPLAINING ITS RISE IN THE 1980s-90s?3. Michael Carter: Land Ownership Inequality and the Income Distribution Consequences of Economic Growth4. Daniele Checchi: Does Educational Achievement Help Explain Income Inequality?5. Michael Lipton and Rob Eastwood: Rural and Urban Income and Poverty: Does Convergence Between Sectors Offset Divergence within Them?PART III. RECENT FACTORS INFLUENCING THE DISTRIBUTION OF INCOME6. Ajit Singh and Rahul Dhumale: Globalization, Technology and Income Inequality: A Critical Analysis7. Lance Taylor: External Liberalization, Economic Performance and Distribution in Latin America and Elsewhere8. Rolph van der Hoeven and Catherine Saget: Labour Market Institutions and Income Inequality: What are the New Insights after the Washington Consensus?9. Anthony B. Atkinson: Increased Income Inequality in OECD Countries and the Redistributive Impact of the Government Budget10. Ke-young Chu, Amid Davoodi and Sanjeev Gupta: Income Distribution and Tax and Government Social Spending Policies in Developing Countries11. Giovanni Andrea Cornia and Sanjay Reddy: The Impact of Adjustment-Related Social Funds on Income Distribution and PovertyPART IV. COUNTRY CASE STUDIES12. Raghbendra Jha: Reducing Poverty and Inequality in India: Has Liberalization Helped?13. Francisco Rodriguez: Factor Shares and Resource Booms: Accounting for the Evolution of Venezuelan Inequality14. Erinc Yeldan: The Impact of Financial Liberalization and the Rise of Financial Rents on Income Inequality: The Case of Turkey15. Carolyn Jenkins and Lynne Thomas: The Changing Nature of Inequality in South Africa16. Isra Sarntisart: Growth, Structural Change and Inequality: The Experience of ThailandIndex

Editorial Reviews

`"Together they make a valuable collection of papers on linkages between inequality and/or trade with growth and/or povertyresearchers will find much of value in the volumes, and research students will find the reviews, methods and case studies informative and useful."'Journal of International Development