Equality, Participation, Transition: Essays in Honour of Branko Horvat

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Samuel Bowles and Herbert Gintis 47 Oswald, A. (1994) ‘Four Pieces of the Unemployment Puzzle’, Working Paper, London School of Economics. Parijs, P. Van (1995) Real Freedom for All: What (if Anything) can Justify Capitalism?, Cambridge: Cambridge University Press. Parsons, T. (1964) ‘Evolutionary Universals in Society’, American Sociological Review, 29(3). Roemer, J. (1993) A Future for Socialism, Cambridge: Harvard University Press. Roemer, J.(1996) Theories of Distributive Justice, Cambridge: Harvard University Press. Roth, A. E., Prašnikar, V., Okuno-Fujiwara, M. and Zamir, S. (1991) ‘Bargaining and Market Behavior in Jerusalem, Ljubljana, Pittsburgh, and Tokyo: An Experimental Study’, American Economic Review, 81(5): 1068–95. Tocqueville, A. de (1933/69) Democracy in America, Garden City, N.Y.: Doubleday and Company. US Bureau of the Census (1993) National Crime Survey, Washington: Government Printing Office. Weinstein, D. A., Shugart, H. H. and Brandt, C. C. (1983), ‘Energy Flow and the Persistence of a Human Population: A Simulation Analysis’, Human Ecology, 11(2): 201–23. Wright, E. O. (1994) Interrogating Inequality, London: Verso.
4 Determinants of Cross-Country Income Inequality: An ‘Augmented’ Kuznets Hypothesis* Branko Milanović 4.1 Introduction This paper presents an alternative hypothesis as to why income inequality differs between countries. The only currently existing hypothesis was formulated by Kuznets (1955). Kuznets’ hypothesis is briefly reviewed in Section 4.2. It provides an indispensable background to our ‘augmented’ Kuznets’ hypothesis which is formulated in Section 4.3. The empirical assessment of our hypothesis is presented in Section 4.4. The hypothesis is tested on a cross-sectional sample of 80 countries including all OECD countries, all European (former) socialist countries, and 50 African, Asian, and Latin American countries. The data are from the 1980s. Section 4.5 spells out the main conclusions and implications of our hypothesis. 4.2 The background: the Kuznets relationship When it comes to factors that explain differences in income-size distribution between countries, there exists only one broad hypothesis, proposed almost 40 years ago by Simon Kuznets (1955). It became famous as the ‘Kuznets inverted U curve’. The hypothesis states that at very low levels of income, income inequality must also be low, as practically * I would like to thank Yvonne Ying and Vesna Petrović for excellent research assistance. I would also like to thank, for very useful comments, Anthony Atkinson, Andrea Brandolini, Annette Brown, Alan Gelb, Bill Easterly, Ravi Kanbur, Martin Ravallion, Klaus Schmidt-Hebbel, Gur Ofer, Milan Vodopivec and Mike Walton, participants of a World Bank seminar and International Economic Association Congress in Tunis in December 1995 where the paper was presented, and the two anonymous reviewers. The views expressed are solely my own; I am also solely responsible for any remaining mistakes. 48
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Equality, Participation, Transition
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First published in Great Britain 20
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vi Contents 9 Self-Management, Empl
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List of Figures 02.1 First Law of O
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x Foreword institution most dear to
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Notes on the Contributors Ivo Bića
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xiv Notes on the Contributors membe
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xvi Notes on the Contributors done
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xviii Notes on the Contributors pri
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Introduction: Branko Horvat - Beyon
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xxii Introduction Dame (1978), Univ
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xxiv Introduction theory led him to
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xxvi Introduction though friendly,
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xxviii Introduction The second pape
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xxx Introduction disciplines such a
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Branko Horvat: Select Bibliography
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EMPLOYEE RETURN ONLY PROFIT PROFIT
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100 Employee Participation in Enter
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7 Employee Involvement and the Mode
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104 Employee Involvement and the Mo
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8 Uneasy Symbiosis of a Market Econ
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120 Market Socialism in Yugoslavia
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146 Self-Management, Employee Owner
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Table 9.1 Methods of privatization
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10 Privatization and Enterprise Per
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164 Privatization: Evidence from Es
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11 Growth Theory and Transition Eco
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186 Growth Theory and Transition Ec
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202 Index economic growth - continu
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204 Index Horvat, Branko - continue
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206 Index neoclassical economics -
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208 Index ‘third way’, 88, 104
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Equality, Participation, Transition: Essays in Honour of Branko Horvat

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