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The role of the middle class in economic development: What do Cross-Country data show?

Chun, Natalie, Hasan, Rana and Ulubasoglu, Mehmet 2011, The role of the middle class in economic development: What do Cross-Country data show?, ADB Economics Working Paper Series, vol. 245, pp. 1-48.

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Title The role of the middle class in economic development: What do Cross-Country data show?
Author(s) Chun, Natalie
Hasan, Rana
Ulubasoglu, MehmetORCID iD for Ulubasoglu, Mehmet orcid.org/0000-0003-3055-5755
Journal name ADB Economics Working Paper Series
Volume number 245
Start page 1
End page 48
Total pages 48
Publisher Asian Development Bank
Place of publication Manila, Philipines
Publication date 2011-01
ISSN 1655-5252
Summary This paper investigates the channels through which the middle class may matter for consumption growth and development. Determinants of the size and the growth of the middle class are also examined. Using several different middle class measures and a panel of 72 developing countries spanning the period 1985-2006, we find that a larger middle class influences growth primarily through higher levels of human capital investment. We also find that large governments, higher levels of urbanization, greater democracy, ethnic concentration, and sea access are all associated with a larger middle class. © 2011 by Asian Development Bank.
Language eng
Field of Research 0 Not Applicable
Socio Economic Objective 0 Not Applicable
Copyright notice ©2011, Asian Development Bank
Persistent URL http://hdl.handle.net/10536/DRO/DU:30077459

Document type: Journal Article
Collection: Faculty of Business and Law
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