Carter, Michael and Morrow, John (2014) The political economy of inclusive rural growth. CEP Discussion Papers (CEPDP1259). London School of Economics and Political Science. Centre for Economic Performance, London, UK.
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Abstract
Abstract Commentators on the `East Asian Miracle' of inclusive growth have often pointed toward shared rural growth policies. But why were these policies not chosen elsewhere? This paper models voters who invest in either subsistence or a complex technology in which public goods complement private capital. Investment and technology choices vary with wealth and the level of public goods enforced by political lobbies. Outcomes depend on the strength of the incipient middle class who bolster political incentives through contributions. Economies with a stronger middle class due to lower inequality or lower risk may thereby sustain higher productivity through public good provision.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://cep.lse.ac.uk/_new/publications/series.asp?... |
| Additional Information: | © 2014 The Authors |
| Divisions: | Centre for Economic Performance |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management S Agriculture > S Agriculture (General) |
| JEL classification: | D - Microeconomics > D2 - Production and Organizations H - Public Economics > H4 - Publicly Provided Goods O - Economic Development, Technological Change, and Growth > O1 - Economic Development Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q1 - Agriculture |
| Date Deposited: | 26 Nov 2014 12:51 |
| Last Modified: | 13 Sep 2024 20:28 |
| Funders: | Economic and Social Research Council |
| URI: | http://eprints.lse.ac.uk/id/eprint/60268 |
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