This paper presents estimates of the relationship between the share of income accruing to the middle class and gross domestic product per capita of economies from the Association of Southeast Asian Nations. The increase in gross domestic product per capita that these economies experienced during 1970–2010 significantly contributed to a higher share of income accruing to the middle class. The impact of the rise of the middle class on economic growth depends on the countries' initial level of gross domestic product per capita. In the majority of these countries, a rise of the middle class that is unrelated to gross domestic product per capita growth would have had a significant negative effect on economic growth, based on the values of the countries' gross domestic product per capita in 1970. In contrast, for recent values of gross domestic product per capita, a rise of the middle class would positively contribute to growth in gross domestic product per capita. The paper shows that human capital accumulation is an important channel through which a rise of the middle class affects economic growth.
Detalhes
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Autor
Brueckner,Markus, Dabla-Norris,Era, Gradstein,Mark, Lederman,Daniel
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Data do documento
2017/05/18
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TIpo de documento
Documento de trabalho sobre pesquisa de políticas
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No. do relatório
WPS8068
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2017/05/18
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Disclosure Status
Disclosed
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Nome do documento
The rise of the middle class and economic growth in ASEAN
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Palavras-chave
gross domestic product per capita;descriptive statistic;income share;increase in income inequality;change in income inequality;measures of income inequality;early stage of development;middle class;human capital accumulation;share of income;credit market imperfection;economics of education;international oil price;effect inequality;process of development;human capital formation;market income inequality;negative effect;aggregate output;natural logarithm;instrumental variable;world income;Fiscal policies;national income;borrowing constraint;fiscal policy;Social Sciences;causal effect;gross income;national university;fixed effect;managing risk;consistent estimate;Higher Education;increase growth;development policy;open access;domestic domestic;high share;
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