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Inequality in Asia: The Local Effects of Global Capitalism

Inequality did not increase during the early stages of economic development in Japan and the East Asian Tigers. But in India and China it did. Why is that? Vamsi Vakulabharanam suggests that the explanation lies not with the particularities of the countries themselves, but rather with the shift in the “regime of global capitalism” around 1980. Testing whether a global regime shift drives inequality dynamics in national development — this is new economic thinking.

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