Rich and powerful? Subjective power and welfare in Russia

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

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.

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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

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Reference Type:
JOUR

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Author(s):
Lokshin, Michael M.
Ravallion, Martin

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Year Published:
2005

Date Published:

Journal Name:
Journal of Economic Behavior & Organization

Volume Number:
56

Issue Number:
2

Start Page Number:
141-172

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ISSN/ISBN:
0167-2681

DOI:
10.1016/j.jebo.2003.09.014

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Reference ID:
1479

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Rich and powerful? Subjective power and welfare in Russia