Economic development and income inequality: an overlooked regression constraint

Article Abstract:

A study was conducted to determine if there is enough empirical evidence to support Simon Kuznet's hypothesis that in the course of a country's economic growth, income inequality initially increases, reaches a peak and then declines. A constraint was imposed on the constant term of the regression model for simple models of the relationship of measures of income inequality with the level of income and the square of the income term. Analysis of data using the constrained model yielded sharper estimates of parameters and thus proves the validity of Kuznet's hypothesis.

Author: Ram, Rati
Models, Economic development

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Income, distribution, and welfare: an intercountry comparison

Article Abstract:

The effects of variations in average income and income distribution on Amartya Sen's welfare index is investigated. The pattern of covariation between the welfare index and read GDP per capita in the cross-sectional study of two countries provided the data for the analysis. Results show that average income is the more significant component of welfare. Income inequality had weak and insignificant correlation with welfare.

Author: Ram, Rati
Analysis, Gross domestic product, Welfare economics

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Forty years of the life span revolution: an exploration of the roles of "convergence," income, and policy

Article Abstract:

The greatest phenomenon to affect people in 150 less-developed countries is hugh increases in life expectancy between 1950-90. Countries who were able to successfully assess the increases in life expectancy, such as China, Indonesia, Yemen Arab Republic and Lesotho, have done substantially better than those countries which have not such as Uganda, Zambia, Rwanda, Malawi and Burundi.

Author: Ram, Rati
Planning, Economic policy, Surveys, Longevity, Life expectancy

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Subjects list: Income distribution, Economic aspects
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