Anthony Shorrocks | |
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| Born | 30 October 1946 London, England |
| Academic career | |
| Field | Development economics |
| Alma mater | University of Sussex (BSc) Brown University (MA) London School of Economics (PhD) |
| Doctoral advisor | Frank Hahn Terence Gorman |
Anthony F. Shorrocks is a British development economist.
| Development economics |
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| Economies by region |
| Economic growth theories |
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Between January 2001 and April 2009 he was Director of UNU-WIDER. Prior to that he was Professor at the London School of Economics and before that he worked at the University of Essex. He has also had several visiting appointments in the US, Canada, Italy, and Russia. [1]
He has many publications in leading economic journals on income and wealth distribution, inequality, poverty, and mobility. [2] [3]
His first degree was a B.Sc. in Mathematics from the University of Sussex. This was followed by a Masters in Economics from Brown University. He took his Ph.D. in Economics at the London School of Economics in 1973 (being awarded the Bowley Prize in 1975). [4]
In 1978, he introduced a measure based on income Gini coefficients to estimate income mobility. [5] This measure, generalized by Maasoumi and Zandvakili, [6] is now generally referred to as Shorrocks index, sometimes as Shorrocks mobility index or Shorrocks rigidity index. It attempts to estimate whether the income inequality Gini coefficient is permanent or temporary, and to what extent a country or region enables economic mobility to its people so that they can move from one (e.g. bottom 20%) income quantile to another (e.g. middle 20%) over time. In other words, Shorrocks index compares inequality of short-term earnings such as annual income of households, to inequality of long-term earnings such as 5-year or 10-year total income for same households.
He has been elected to be a Fellow of the Econometric Society. [2]
In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini.
Economic inequality is an umbrella term for a) income inequality or distribution of income, b) wealth inequality or distribution of wealth, and c) consumption inequality. Each of these can be measured between two or more nations, within a single nation, or between and within sub-populations.
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world.
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty and fairness.
The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic inequality or economic heterogeneity.
Sir Anthony Barnes Atkinson was a British economist, Centennial Professor at the London School of Economics, and senior research fellow of Nuffield College, Oxford.
The Atkinson index is a measure of income inequality developed by British economist Anthony Barnes Atkinson. The measure is useful in determining which end of the distribution contributed most to the observed inequality.
Income inequality has fluctuated considerably in the United States since measurements began around 1915, moving in an arc between peaks in the 1920s and 2000s, with a 30-year period of relatively lower inequality between 1950 and 1980.
The United Nations University World Institute for Development Economics Research (UNU-WIDER) is part of the United Nations University (UNU). UNU-WIDER, the first research and training centre to be established by the UNU, is an international academic organization set up with the aim of promoting peace and progress by bringing together leading scholars from around the world to tackle pressing global problems.
Wan Guanghua is a Chinese economist. He is Principal Economist at the Asian Development Bank. Formerly Project Director at UNU-WIDER, he has taught and researched in development economics an applied econometrics at a range of universities including the University of New England and the University of Sydney and he is an honorary professor at several leading universities in China. He is particularly noted for pioneering work in the development of regression-based decomposition techniques for inequality and poverty accounting. He has many academic papers published in peer reviewed journals.
Finn Tarp is a Danish professor of development economics at the University of Copenhagen and former director of UNU-WIDER (2009-2018), Helsinki, Finland.
China's current mainly market economy features a high degree of income inequality. According to the Asian Development Bank Institute, “before China implemented reform and opening-up policies in 1978, its income distribution pattern was characterized as egalitarian in all aspects.”
Giovanni Andrea Cornia was an Italian development economist. He was professor of economics, department of economics and management, at the University of Florence. He had previously been the director of the Regional Institute of Economic Planning of Tuscany, the United Nations University World Institute for Development Economics Research (UNU-WIDER), in Helsinki, and the Economic and Policy Research Program, UNICEF Office of Research-Innocenti, in Florence. He was formerly also chief economist, UNICEF, New York. His main areas of professional interest were income and asset inequality, poverty, growth, child well-being, human development and mortality crises, transition economics, and institutional economics. He was author of over a dozen books and dozens of articles, reports and working papers on practical development economics issues in individual countries, regions and globally. Born on 9 April 1947, he died in July 2024, at the age of 77.
Income inequality in India refers to the unequal distribution of wealth and income among its citizens. According to the CIA World Factbook, the Gini coefficient of India, which is a measure of income distribution inequality, was 35.2 in 2011, ranking 95th out of 157. Wealth distribution is also uneven, with one report estimating that 54% of the country's wealth is controlled by millionaires, the second highest after Russia, as of November 2016. The richest 1% of Indians own 58% of wealth, while the richest 10% of Indians own 80% of the wealth. This trend has consistently increased, meaning the rich are getting richer much faster than the poor, widening the income gap. Inequality worsened since the establishment of income tax in 1922, overtaking the British Raj's record of the share of the top 1% in national income, which was 20.7% in 1939–40. According to Oxfam India's report of 2023, "Survival of the Richest: India Story," just 5 per cent of Indians own more than 60 per cent of the country's wealth, while the bottom 50 per cent of the population possess only 3 per cent of the wealth. It also says that between 2012 and 2021, 40% of wealth generated in India has gone to just 1% of the total population and 3% of the wealth has gone to bottom 50%. The number of hungry Indians increased to 350 million in 2022 from 190 million in 2018, while the number of billionaires has increased from 102 in 2020 to 166 in 2022. The covid pandemic reduced the income of the poor, but the wealthy did well. The combined wealth of India's 100 richest is now above $600 billion, which is equivalent to India's Union Budget for 18 months. According to Union Government 's own submission to Supreme Court of India, widespread hunger has caused 65% of deaths of children under the age of 5 in 2022. Saurabh Mukherjee, the founder and CIO of Marcellus Investment Managers, along with his colleague Nandita Rajhansa, has coined the term "Octopus Class" to depict 2 lakh families or around 1 million people in India who control 80% of India's wealth. This class has consolidated financial, social and political power and has continuously pushed its 'tentacles' in every profitable activity they are interested in, aided by liberalisation and consequent growth of globalised economy since 1991.
Rolph Eric van der Hoeven is emeritus professor on employment and development economics at the International Institute of Social Studies in The Hague and was appointed in 2009 as a member of the Committee on Development Cooperation of the International Advisory Council (AIV) to the Dutch Government. Dr. van der Hoeven is a member of the Board of Trustees of the KNCV Tuberculosis Fund.
Sanjiv M. Ravi Kanbur, is T.H. Lee Professor of World Affairs, International Professor of Applied Economics, and Professor of Economics at Cornell University. He worked for the World Bank for almost two decades and was the director of the World Development Report.
Andy Sumner is an inter-disciplinary development economist. He has published extensively on global poverty, inequality and economic development including ten books.
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