vicious and self-perpetuating circle of
high inequality, bad institutions, and low economic growth (Acemoglu et al. 2004 …
Klaus Deininger
1
, Songqing Jin
2*
, and Hari K. Nagarajan
3
1
World Bank, Washington DC, USA
2
Michigan State … University, East Lansing, Michigan, USA
3
National Council for Applied Economic Research, New Delhi, India …