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

Author

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  • Francisco Rodríguez

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.

Suggested Citation

  • Francisco Rodríguez, 2000. "Factor Shares and Resource Booms: Accounting for the Evolution of Venezuelan Inequality," WIDER Working Paper Series wp-2000-205, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2000-205
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    File URL: https://www.wider.unu.edu/sites/default/files/wp205.pdf
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    Cited by:

    1. Pablo Astorga, 2024. "Revealing The Diversity And Complexity Behind Long-Term Income Inequality In Latin America, 1920-2011," Working Papers 0250, European Historical Economics Society (EHES).

    More about this item

    Keywords

    Equality and inequality; Free trade; Income distribution; Monetary policy; Production functions (Economic theory);
    All these keywords.

    JEL classification:

    • J7 - Labor and Demographic Economics - - Labor Discrimination
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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