The Political Economy of Poverty, Equity, and Growth
Angus Maddison uses a standard framework of analysis and statistics to explain the sources of growth in Brazil and Mexico—two of the largest middle-income developing countries that have a long history as independent nations. Despite their status, both countries inherited patterns of extreme inequality in social relations, income, and education, which haven’t been substantially modified by their government policies. The Political Economy of Poverty, Equity, and Growth draws on a wide variety of data sources, including the role of institutions, ideology, power elites, and interest groups in determining the patterns of growth. Author Angus Maddison concluded that capital accumulation and a rapidly growing labor supply were the major sources of growth, and measures of efficiency of resource allocation were quite respectable by international standards from the 1950s.
The Political Economy of Poverty, Equity, and Growth analyzes how institutions, ideologies, power elites, and interest groups have affected brazil and Mexico's economic growth and distribution of income. Maddison discusses key factors responsible for the economic progress of these countries--accumulated capital, productivity increases, relatively unimpeded foreign investment, and reasonably good foreign exchange rates. Topics include:
- Inflation
- Trade
- Education
- Political Economy of Reform
- Poverty