scholarly journals Credit Constraints, Political Instability, and Capital Accumulation

2013 ◽  
Author(s):  
Risto Herrala ◽  
Rima Turk-Ariss
Keyword(s):  
Capital Accumulation ◽  
Credit Constraints ◽  
Political Instability

scholarly journals Credit Constraints, Political Instability, and Capital Accumulation

2013 ◽  
Vol 13 (246) ◽  
pp. 1 ◽  
Author(s):  
Risto Herrala ◽  
Rima Turk Ariss ◽  
◽  
Keyword(s):  
Capital Accumulation ◽  
Credit Constraints ◽  
Political Instability

scholarly journals Why Does Misallocation Persist?

2010 ◽  
Vol 2 (1) ◽  
pp. 189-206 ◽  
Author(s):  
Abhijit V. Banerjee ◽  
Benjamin Moll
Keyword(s):  
Developing Countries ◽  
Simple Model ◽  
Empirical Evidence ◽  
Capital Accumulation ◽  
Credit Constraints ◽  
Extensive Margin ◽  
Capital Misallocation ◽  
Cross Country ◽  
General Conditions

Recent papers argue that the misallocation of resources can explain large cross-country TFP differences. This argument is underpinned by empirical evidence documenting substantial dispersion in the marginal products of resources, particularly capital, in developing countries. But why does misallocation persists? That is, why don't distortions disappear on their own? This is particularly true for capital misallocation, a point we illustrate in a simple model of capital accumulation with credit constraints. We distinguish between misallocation on the intensive and the extensive margin, and show that the former should disappear asymptotically under general conditions, while the latter may persist. We conclude by discussing possible theories of persistent misallocation. (JEL D24, E22, G31, G32, L26)

scholarly journals Nonconvexities, Retirement, and the Elasticity of Labor Supply

2013 ◽  
Vol 103 (4) ◽  
pp. 1445-1462 ◽  
Author(s):  
Richard Rogerson ◽  
Johanna Wallenius
Keyword(s):  
Human Capital ◽  
Life Cycle ◽  
Labor Supply ◽  
Capital Accumulation ◽  
Credit Constraints ◽  
Elasticity Of Substitution ◽  
Human Capital Accumulation ◽  
Hours Worked ◽  
Younger Workers ◽  
Life Cycle Models

We consider two life cycle models of labor supply that use nonconvexities to generate retirement. In each case we derive a link between hours worked prior to retirement, the intertemporal elasticity of substitution for labor (IES), and the size of the nonconvexities. This link is robust to allowing for credit constraints and human capital accumulation by younger workers and suggests values for the IES that are .75 or higher. (JEL D91, J22, J24, J26)

scholarly journals Credit Constraint, Credit Adjustment, and Sustainable Growth of Farmers’ Income

2018 ◽  
Vol 10 (12) ◽  
pp. 4407 ◽  
Author(s):  
Xiaohua Wang ◽  
Meilan Chen ◽  
Xi He ◽  
Fangfang Zhang
Keyword(s):  
Rural Economy ◽  
Capital Accumulation ◽  
Credit Constraints ◽  
Theory And Practice ◽  
Sustainable Growth ◽  
Regional Economies ◽  
Credit Constraint ◽  
Cross Sectional ◽  
Financial Repression ◽  
The Impact

Research on financial theory and practice has shown that the development of transition economies generally faces two major challenges. First, the less developed regions face more severe financial repression, which leads to imbalanced and unsustainable development of regional economies. Second, farmers face different credit constraints because of their productivity differences, which can further polarize the internal inequality of their income. Based on cross-sectional data of 2037 counties in 30 provinces of China in 2010, this paper employs quantile regression to investigate the relationships among credit constraints, credit adjustment, and the sustainable growth of farmers’ income. Our results confirm that rural residents generally face credit constraints, and there are significant stratified differences in the impact of farmer credit on farmers’ income. Farmers with higher income are more likely to obtain bank credit and continue to grow their income, while farmers with lower income are more likely to fall into the “vicious circle of poverty” because of their lack of capital accumulation. Therefore, to promote more fair and sustainable growth of farmers’ income, it is important to increase the credit available to farmers. Furthermore, it is critical to promote healthy competition among county financial institutions and accelerate the establishment of inclusive financial systems. This can ultimately help ensure sustainable development of agriculture and rural economy.

Secular stagnation in the modern world

2018 ◽  
pp. 125-141 ◽  
Author(s):  
S. M. Drobyshevsky ◽  
P. V. Trunin ◽  
A. V. Bozhechkova
Keyword(s):  
Public Debt ◽  
Capital Accumulation ◽  
Technological Development ◽  
Japanese Economy ◽  
Modern World ◽  
Key Factors ◽  
Destruction Process ◽  
Secular Stagnation ◽  
The Impact

The paper studies the factors of secular stagnation. Key factors of long-term slowdown in economic growth include the slowdown of technological development, aging population, human capital accumulation limits, high public debt, creative destruction process violation etc. The authors analyze key theoretical aspects of long-term stagnation and study the impact of these factors on Japanies economy. The authors conclude that most of the factors have significant influence on the Japanese economy for recent decades, but they cannot explain all dynamics. For Russia, on the contrary, we do not see any grounds for considering the decline in the economy since 2013 as an episode of secular stagnation.

Human Capital Accumulation and Resource Abundance

2011 ◽  
pp. 66-77
Author(s):  
O. Vasilieva
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Relevant Literature ◽  
Harmful Effect ◽  
Human Capital Accumulation ◽  
Resource Abundance ◽  
Empirical Results ◽  
Theoretical Predictions ◽  
Crowd Out

Does resource abundance positively affect human capital accumulation? Or, alternatively, does it «crowd out» the human capital leading to the deterioration of economic growth? The paper gives an overview of the relevant literature and discusses both theoretical and empirical results obtained regarding the connection between human capital accumulation and resource abundance. It shows that despite some theoretical predictions about the harmful effect of resource abundance on human capital accumulation, unambiguous evidence of such impact that would be robust with respect to the change of resource abundance parameter has not been obtained yet.

Credit constraints and Rural Migration: Evidence from Six Villages in Uttar Pradesh

2018 ◽  
Vol 15 (3) ◽  
pp. 389-398
Author(s):  
Ruchi Singh
Keyword(s):  
Credit Constraints ◽  
Uttar Pradesh ◽  
Binary Logistic Regression ◽  
Binary Logistic Regression Model ◽  
Male Migration ◽  
Rural Economies ◽  
And Migration ◽  
The Relationship ◽  
The Empirical Analysis

Rural economies in developing countries are often characterized by credit constraints. Although few attempts have been made to understand the trends and patterns of male out-migration from Uttar Pradesh (UP), there is dearth of literature on the linkage between credit accessibility and male migration in rural Uttar Pradesh. The present study tries to fill this gap. The objective of this study is to assess the role of credit accessibility in determining rural male migration. A primary survey of 370 households was conducted in six villages of Jaunpur district in Uttar Pradesh. Simple statistical tools and a binary logistic regression model were used for analyzing the data. The result of the empirical analysis shows that various sources of credit and accessibility to them play a very important role in male migration in rural Uttar Pradesh. The study also found that the relationship between credit constraints and migration varies across various social groups in UP.

Koreans across the Sea: Migration of Laborers to the Metropole, 1910–1937

2019 ◽  
pp. 161-200
Author(s):  
Mikwi Cho
Keyword(s):  
Capital Accumulation ◽  
Regional Scale ◽  
Living Conditions ◽  
Colonial Period ◽  
Global City ◽  
Japanese Empire ◽  
Chain Migration ◽  
Free Mobility

This paper is concerned with Korean farmers who were transformed into laborers during the Korean colonial period and migrated to Japan to enhance their living conditions. The author’s research adopts a regional scale to its investigation in which the emergence of Osaka as a global city attracted Koreans seeking economic betterment. The paper shows that, despite an initial claim to permit the free mobility of Koreans, the Japanese empire came to control this mobility depending on political, social, and economic circumstances of Japan and Korea. For Koreans, notwithstanding poverty being a primary trigger for the abandonment of their homes, the paper argues that their migration was facilitated by chain migration and they saw Japan as a resolution to their economic hardships in the process of capital accumulation by the empire.

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