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21. The Evolution of Personal Wealth in the Former Soviet Union and Central and Eastern Europe

Author:
Andrei Rachinsky and Sergei Guriev
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This study discusses the evolution of personal wealth in transition economies. While data availability is still a problem, the available indirect evidence suggests privatization has resulted in an increase in personal wealth but also in personal wealth inequality, especially in the countries that lagged behind in building effective institutions. Another source of wealth inequality is the high income inequality due to wage decompression coupled with the low saving rates among the poor. We pay a special attention to one of the most noticeable implications of this rise in personal wealth and wealth inequality— the emergence of so called 'oligarchs'. Using the comprehensive dataset of Muscovites' incomes we show that surveys that do not take into account the first- and second-tier rich (billionaires and millionaires) may drastically underestimate inequality.
Topic:
International Relations, Development, and International Political Economy
Political Geography:
Eastern Europe and Soviet Union

22. The Distribution of Household Wealth in India

Author:
D. Jayaraj and S. Subramanian
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper reviews the principal source of India's wealth distribution statistics, which is constituted by the five decennial Reserve Bank of India National Sample Survey Organization Surveys on Debt and Investment of 1961-62, 1971-72, 1981-82, 1991-92, and 2002-03. The data available are described, critically appraised, and analyzed to present some salient findings in terms of the levels of debt, the levels of asset-holdings across the states of the Indian Union and over time, wealth composition, and aspects of vertical and horizontal inequality in the distribution of wealth. The centrality of land and real estate in the wealth status of India is underlined, and some broad aspects of redistributive anti-poverty policy are spelt out.
Topic:
International Relations, Development, and International Political Economy
Political Geography:
India and Asia

23. Gender and the Distribution of Wealth in Developing Countries

Author:
Cheryl R. Doss and Carmen Diana Deere
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Only recently has it been recognized that women may not share in the wealth of men, even within the same household or family. Moreover, there is growing evidence that the gender distribution of wealth matters. This paper first reviews the available evidence for developing countries on the gender asset gap and finds that it is significant. It then considers the constraints on women's asset ownership with particular attention to the role of legal marital and inheritance regimes. The paper then turns to a more detailed examination of women's land ownership in Latin America and Africa. The final section considers the impact of women's land ownership on household income and welfare.
Topic:
International Relations, Development, International Political Economy, and Third World
Political Geography:
Africa and Latin America

24. Household Wealth in Latin America

Author:
Seymour Spilerman and Florencia Torche
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper provides a descriptive analysis of wealth ownership and wealth inequality in Latin American countries, using diverse published sources and primary data analysis for 16 nations. We produce estimates of the distribution of home ownership, land, and financial assets, and find very high wealth concentration in all these types of assets, with the partial exception home ownership. The relevance of informal assets and the historical patterns of wealth accumulation and concentration since colonial times are discussed. Mechanisms of intergenerational wealth transmission are analyzed for the Chilean case.
Topic:
International Relations, Development, and International Political Economy
Political Geography:
South America and Latin America

25. The Structure and Performance of Ethiopia's Financial Sector in the Pre- and Post-Reform Period with a Special Focus on Banking

Author:
Alemayehu Geda
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Since 1992 Ethiopia has been engaged in liberalizing its financial sector. The hallmark of the strategy is gradualism. The approach is not without problems especially from Bretton Woods Institutions that saw the reform as a sluggish process. This study examines this liberalization program by analyzing the performance of the sector before and after the reform. The study notes that given the nascent development of the financial sector in the country, the relatively good shape in which the existing financial institutions find themselves, and given that supervision and regulation capacity of the regulating agency is weak, the government's strategy of gradualism and its over all reform direction is encouraging. However, we argue for charting out clearly defined time frame for liberalization and exploring the possibility of engaging with foreign banks to acquire new technology that enhance the efficiency of the financial sector in general and the banking sector in particular.
Topic:
International Relations, Development, and International Political Economy
Political Geography:
Africa and Ethiopia

26. The International Mobility of Cultural Talent

Author:
Tony Addison
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Artists, musicians and writers have always been great travellers. Today, their talent circulates in new ways, and takes new forms, as the creative industries expand globally in a marriage of media technology and the traditional arts. The growing international market for cultural talent can do much to help countries diversify their economies, and improve the quality of life more broadly. The creative industries are subject to strong clustering effects, with talent moving swiftly to the most vibrant clusters, not always to the advantage of the poorer countries which can lose talent to the richer world. Countries that protect intellectual property rights, educate and train their talent, and maintain politically open and liberal societies will have a head start in the global creative economy.
Topic:
International Relations, Economics, Migration, and Science and Technology

27. Long-Run Changes in the Concentration of Wealth: An Overview of Recent Findings

Author:
Daniel Waldenström, Jesper Roine, and Henry Ohlsson
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The objective of this paper is to study the dynamics of the wealth distribution over the path of economic development. More specifically, we are interested in distinguishing between changes which seem to be country specific and characteristics shared by all countries. A historical account of the evolution of the wealth distribution in developed countries is interesting in itself, but it can also hold implications for countries that are currently in an early stage of development or in transition. The data used originates from the taxation of wealth and estates.
Topic:
International Relations, Demographics, and Economics
Political Geography:
Europe

28. Institutions and Economic Growth: The Successful Experience of Switzerland (1870-1950)

Author:
André Mach and Thomas David
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This research paper discusses the role of institutions in the rapid growth and successful international integration of Switzerland during the late nineteenth and early twentieth century. In analysing the emergence and consolidation of the institutions whose existence was crucial, the paper looks both at the political institutions that managed conflicts and promoted cooperation between private and public actors and the economic institutions that, on the one hand, compensated the groups that fell behind in the developmental process (e.g., agricultural subsidies, high tolerance for domestic cartels, tariffs for some industries, institutions for labour representation) and, on the other hand, enhanced productivity. In addition, the absence of some institutions such as a patent law and an independent central bank was also crucial in the Swiss case, even though these two institutions are regarded as pre-requisites of development by today's economic orthodoxy. The paper concludes by drawing lessons for today's developing countries.
Topic:
International Relations, Development, and Economics
Political Geography:
Europe and Switzerland

29. International Mobility of Researchers and Scientists: Policy Options for Turning a Drain into a Gain

Author:
Lauritz B. Holm-Nielsen and Kristian Thorn
Publication Date:
08-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
High demand for researchers and scientists has led to an increase in skilled migration in recent years. The paper focuses on improving our understanding of the push and pull factors affecting the migration decisions of researchers and scientists from developing countries and discusses policy options for maximizing the potential gains associated with international mobility of advanced human capital. Evidence suggests that a reasonable salary level should be guaranteed but that return decisions of researchers and scientists are primarily shaped by factors such as the quality of the research environment, professional reward structures and access to state-of-the-art equipment.
Topic:
International Relations, Education, Migration, and Science and Technology

30. International Mobility of Health Professionals: Brain Drain or Brain Exchange?

Author:
Stephen Bach
Publication Date:
08-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The consequences of health professional mobility have become a prominent public policy concern. This paper considers trends in mobility amongst doctors and nurses and the consequences for health systems. Policy responses are shifting from a reactive agenda that focuses on stemming migration towards a more active agenda of managed migration that benefits source and destination countries. Improved working conditions and effective human resource practice are required to encourage retention of health professionals in both source and destination countries.
Topic:
International Relations, Health, Human Welfare, and Migration