For decades, workers have been missing out on many of the gains of economic growth, and countless analyses have been published to explain why. Though the problem is fundamentally economic, it cannot be understood without also accounting for technology, politics, and culture.
LONDON – In describing recent economic history as “the inglorious years,” French economist Daniel Cohen’s title refers primarily to a problem that is also examined in the economist Jan Eeckhout’s book, The Profit Paradox. That problem, as Eeckhout puts it, is “wage stagnation and extreme wage inequality.” Over the past half-century, the situation for workers in most rich countries has deteriorated on average, setting this era apart from the 30 glorious years (les trente glorieuses) after World War II, when West Europeans, Canadians, and Americans enjoyed a near-miraculous period of sustained growth, including broad-based growth in real wages and higher living standards.
What can these authors add to the mountain of analyses churned out in recent years……
Vocational education is an important and well-established alternative to academic education. In most countries, the number of vocational graduates is now on par with that of academic graduates. In the case of China, there are approximately 11 million students graduating with vocational education qualifications annually, only slightly less than the around 12 million academic graduates per year.
Figure 1. The density of secondary vocational schools in China (More details in the paper)
The workshop includes discussions on the development of theory leading to a rethinking of neoliberalism, recasting of the concept of moral economy to integrate it with institutional explanations, a rethinking of poverty alleviation and a recognition and making visible the institutional forces that influence how people think and behave. It will also considers the causal assumptions on which policies are designed.
Venue: GC601, Graduate Centre, Mile End Campus
Date: Thursday, 13th June 2019
Since 2014, I have coordinated and run an annual workshop on theoretical and empirical research on the analysis of poverty, inequality and mobility, generously supported by the School of Business and Management at Queen Mary University of London.
Following the 2016 workshop, several of the presented papers formed the basis for an edited volume of the journal Research on Economic Inequality (Bandyopadhyay 2018). The ten contributions address issues that are at the forefront of the discussion on how we measure poverty, inequality and welfare and how we use such measurements to devise policies to deliver social mobility. While some of the papers deal with theoretical issues that question current methods on how we measure poverty, inequality and welfare, some of them use novel techniques and datasets to investigate the dynamics of poverty and welfare, with special reference to developing countries.
On Friday, 8th of June the Centre of Globalisation Research (CGR) of the School of Business and Management, Queen Mary University of London is hosting a workshop on development organised by Prof. Almudena Sevilla.
Next Wednesday 16th of May, Dr Elena Bárcena Martín will be presenting her research. Dr Elena Bárcena Martín works at the University of Malaga as an Associate Professor of Statistic and Econometrics. She has been research visitor at Columbia University and LSE where she studied the Master of Science in Econometrics and Mathematical Economics.
The aim of this paper is to analyse to what extent the previous status of children in poverty affects current child poverty, even when we control for observed and unobserved individual heterogeneity and treat the initial condition problem. On the basis of Wooldridge’s (2005) methodology, we estimate a dynamic random effects probit model considering three levels due to the hierarchical structure of our data: observations for each year (level 1) of the children (level 2) nested into countries (level 3). We corroborate the relevance of lagged status in poverty and assess the role of context variables in explaining differences across countries in child poverty dynamics. In particular, we highlight the significance of family benefits in reducing child poverty and assess which features of these benefits are more effective to reduce child poverty. This way, some key insights are provided to design more effective public policies to alleviate child poverty.
Some stories say that local economies benefit from cartels in Mexico. But research suggests that the areas most plagued by drug-related violence have seriously suffered economically.
Mexico is facing one of the most violent episodes in its recent history. The country has had over 200,000 drug-related killings since 2006. Last year alone, 29,168 homicides were recorded, reaching the highest homicide rate over the last 20 years, surpassing the previous historical peak in 2011 when drug cartel violence accounted for nearly half of all national homicides.
The next Tuesday 28th of March, Prof Sushanta Mallick – CGR member and Professor of International Finance at the School of Business and Management, Queen Mary University of London– will deliver his Inaugural Lecture, examining how far the developing countries have come in their process of growth following the rapid pace of policy reforms in the 1990s. Prof Mallick makes a key distinction between trade and financial liberalisation, finding that many low-income countries have benefitted from trade openness in improving their pricing power in the global market place but there is a long way to go to achieve the degree of financial deepening or openness that exists in high-income countries.