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Rich and powerful? Subjective power and welfare in Russia

Citation

Lokshin, Michael M. & Ravallion, Martin (2005). Rich and powerful? Subjective power and welfare in Russia. Journal of Economic Behavior & Organization, 56(2), 141-172.

Abstract

Does “empowerment” come hand-in-hand with higher economic welfare? In theory, higher income is likely to raise both power and welfare, but heterogeneity in other characteristics can either strengthen or weaken the relationship. Survey data on Russian adults indicate that higher individual and household incomes raise both self-rated power and economic welfare. The individual income effect is primarily direct, rather than through higher household income. There are diminishing returns to income, though income inequality emerges as only a minor factor reducing either aggregate power or welfare. At given income, the identified covariates have strikingly similar effects on power and economic welfare.

URL

http://dx.doi.org/10.1016/j.jebo.2003.09.014

Reference Type

Journal Article

Year Published

2005

Journal Title

Journal of Economic Behavior & Organization

Author(s)

Lokshin, Michael M.
Ravallion, Martin