Asset accumulation by the middle class and the poor in Latin America: political economy and governance dimensions

摘要: As Latin America is currently living a period (2004-2006) of accelerated economic growth led by booming commodity prices, it good time to address some important long term features the American economy and society that have been traditionally inimical stable sustained development. Recent literature on relationship between growth, inequality, democracy development highlights, based both analytical models historical data, at root problems instability fragility lies combination often slow distributive conflict in unequal societies. The problem compounded traditional difficulties ensure adequate governance mechanisms mediate distribute ways are favorable stability. This paper highlights missing components current social policies affect political-economy equilibrium: particular, neglect middle class as valid subject policy, persistence income wealth inequality context moderate need put more emphasis asset accumulation poor class. provides political rationales for devising new could correct this neglect.