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Development EconomicsFrom the Poverty to the Wealth of Nations$
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Yujiro Hayami and Yoshihisa Godo

Print publication date: 2005

Print ISBN-13: 9780199272709

Published to Oxford Scholarship Online: October 2005

DOI: 10.1093/0199272700.001.0001

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Income Distribution, Poverty, and Environmental Problems

Income Distribution, Poverty, and Environmental Problems

(p.191) 7. Income Distribution, Poverty, and Environmental Problems
Development Economics

Yujiro Hayami

Yoshihisa Godo

Oxford University Press

Growing inequality and environmental degradation are two serious problems that developing economies will have to face in their economic growth processes geared for reducing absolute poverty. These problems are closely interrelated. For example, the importation of labour-saving industrial technologies from high-income countries tends to increase returns to capital relative to labour, thereby increasing the incomes of the property-owning rich relative to the poor owning no other productive means other than their own labour. Such technologies are adopted often without accompanying adequate investment in pollution control, resulting in horrible environmental pollution. Institutional innovations are needed to prevent income inequality and environmental degradation from rising, while sustaining the growth of developing economies.

Keywords:   Coase theorem, developing countries, economic growth, environmental degradation, Inverted-U curve, Kyoto protocol, Pigou theorem, pollution, poverty reduction

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