Development

Armin Falk, Anke Becker, Thomas Dohmen, Benjamin Enke, David Huffman, Uwe Sunde, 19 June 2018

Vast inequalities exist within societies as well as across nations. This column uses a new dataset to show that preferences vary substantially across and within societies, and that these differences are related to differences in economic outcomes at the individual and aggregate levels. The findings suggest that institutional reform should take into account how institutions may interact with preference differences. 

Francesco Caselli, Antonio Ciccone, 09 June 2018

Contributions to the development accounting literature suggest that human capital plays only a modest role in explaining the large income gaps across the world. This column reviews some of these studies to assess the impact of the relative efficiency and relative supply of high- versus low-skilled workers in labour markets. It concludes that differences in skill premia across countries are not due to differences in human capital embodied in skilled workers, but rather to differences in country-specific technological and institutional environments.

Peter Jensen, Markus Lampe, Paul Sharp, Christian Skovsgaard, 08 June 2018

Denmark is a paragon of economic development because it rapidly modernised its agriculture 150 years ago by using technology and cooperatives. This column argues that Denmark's development story has in fact been misrepresented. Rapid agricultural development was the end of a process begun by landed elites in the 18th century. It may be a mistake to cite the case of Denmark to argue that a country with a lot of peasants and cows can cooperate its way out of underdevelopment.

Leandro de la Escosura, 02 June 2018

Rising trends in GDP per capita are often interpreted as reflecting rising levels of general wellbeing. But GDP per capita is at best a crude proxy for wellbeing, neglecting important qualitative dimensions. This column explores the long-term trends in global wellbeing inequality using a new dataset. Inequality indices reflecting various aspects of wellbeing are shown to have been declining since WWI, unlike real GDP per capita inequality. 

Pablo Selaya, 30 May 2018

Recent evidence suggests that infrastructure put in place by the Roman empire over 2,000 years ago might have lasting economic consequences to this day. In this Vox Talks, Tim Phillips talks to Pablo Selaya about his recent research on the persistence of historical public goods provision, in the form of road network development in Roman times. The specific features of these roads - originally built for military access into newly-conquered territories - meant the transport network grew to be uniquely extensive and efficient, with lasting benefits for economic development.

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