World Income Distribution and Tax Reform: What Tax Systems Do Low-Income Countries Need?

2003 ◽  
Vol 21 (3) ◽  
pp. 301-317 ◽  
Author(s):  
J. Ram Pillarisetti
Keyword(s):  
Income Distribution ◽  
Low Income ◽  
Tax Reform ◽  
Low Income Countries ◽  
World Income ◽  
World Income Distribution ◽  
Tax Systems

Convergence or Divergence Patterns in Global Defence Spending: Further Evidence from a Nonlinear Single Factor Model

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Charles Shaaba Saba
Keyword(s):  
Low Income ◽  
Factor Model ◽  
National Income ◽  
Testing Procedure ◽  
Low Income Countries ◽  
Convergence Clubs ◽  
Defence Spending ◽  
Public Resources ◽  
World Income ◽  
International Convergence

AbstractThis study re-examines the international convergence in defence spending for 125 countries spanning 1985–2018. We employ the approach of Phillips and Sul, which tests for the existence of convergence clubs and the modelling of different transition paths to convergence. Our findings suggest no overall defence spending convergence at the world, income groups (except the low-income countries) and regional levels. However, we identify two convergence clubs using an iterative testing procedure and eventually (i) at world level, these two clubs exhibit convergence, and (ii) while taking into account Gross national income, geography and defence alliances/economic cooperation it is possible to make different number of convergence/divergence clubs. Contrary to previous findings, this study finds that the process of convergence in defence spending does not reflect the desirable emanations of defence policies sharing similar characteristics, at least in terms of the allocation of scarce public resources across the globe.

Colonialism, Property Rights and the Modern World Income Distribution

2010 ◽  
Vol 40 (3) ◽  
pp. 487-508 ◽  
Author(s):  
Matthew D. Fails ◽  
Jonathan Krieckhaus
Keyword(s):  
Property Rights ◽  
Income Distribution ◽  
Modern World ◽  
British Colonialism ◽  
Discernible Effect ◽  
Colonial Legacies ◽  
World Income ◽  
World Income Distribution ◽  
Contemporary Development ◽  
Reversal Of Fortune

Influential studies by Acemoglu, Johnson and Robinson claim that colonial legacies explain the origins of development-promoting property rights and thus account for the modern world income distribution. Specifically, they argue that European colonial powers engineered a global ‘reversal of fortune’, bringing property rights and prosperity to relatively uninhabited colonies while imposing inefficient institutions on locales with less potential for settlement. We re-evaluate their theoretical arguments and empirical findings and come to a different conclusion. We concur that British colonialism dramatically restructured four colonies, resulting in phenomenal economic success. For the majority of the world, however, colonialism had no discernible effect on property rights. We conclude that contemporary development studies must find another explanation for the modern world income distribution.

The Impact of Death and Bubbles in American Art

2017 ◽  
Author(s):  
Robert B. Ekelund ◽  
John D. Jackson ◽  
Robert D. Tollison
Keyword(s):  
Income Distribution ◽  
Supply And Demand ◽  
American Art ◽  
Art Market ◽  
Sample Period ◽  
Price Increases ◽  
Price Bubble ◽  
World Income ◽  
World Income Distribution ◽  
The Impact

Chapter 7 presents a dissection of two important issues affecting the art market and the fate of artists: “a death effect” and “bubbles.” Death of an artist is a guarantee that additional legitimate output will not be forthcoming, the “Coase durable monopoly conjecture.” Evidence indicates that the price path of seventeen artists who died over the sample period rises as the artist approaches death. After death, price may rise or fall with supply and demand, but we find it rises for our contemporary artists. “Bubbles”—rapid price increases—have and do occur in the art market. We find that art price behavior parallel GDP prior to 2008, but rose much faster thereafter. This result, coupled with an increasingly skewed world income distribution and billionaire buying, potentially denotes an “art price bubble.”

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