Factor Shares and Resource Booms: Accounting for the Evolution of Venezuelan Inequality

Francisco Rodríguez

No wp-2000-205, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper studies the evolution of Venezuelan inequality since 1970. It finds a striking increase in Venezuelan inequality that has been due mainly to the rise in capital's share of GDP. It shows that the increase can be traced back to the coupling of a collapse in the ratio of physical to human capital that occurred from the 1970s with a low elasticity of substitution in production between capital and labour.

Keywords: Equality and inequality; Free trade; Income distribution; Monetary policy; Production functions (Economic theory) (search for similar items in EconPapers)
Date: 2000
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Related works:
Working Paper: Factor Shares and Resource Booms Accounting for the Evolution of Venezuelan Inequality (2000)
Working Paper: Factor Shares and Resource Booms: Accounting for the Evolution of Venezuelan Inequality (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2000-205

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