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Financial Sector Development in the Pacific Rim$
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Takatoshi Ito and Andrew K. Rose

Print publication date: 2009

Print ISBN-13: 9780226386843

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226386867.001.0001

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Big Business Stability and Social Welfare

Big Business Stability and Social Welfare

Chapter:
(p.349) 10 Big Business Stability and Social Welfare
Source:
Financial Sector Development in the Pacific Rim
Author(s):

Kathy Fogel

Randall Morck

Bernard Yeung

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226386867.003.0024

This chapter examines whether countries with more business stability pay the price of lower growth but also reap the benefits of greater social justice. That is, it asks whether greater business turnover is systematically associated with a worse social infrastructure, as manifested in less liberty, fraternity, or equality. A wide range of indicators of social well-being are considered, including measures of environmental degradation, health, education, poverty, inequality, and fundamental rights. The study finds no evidence that business stability is associated with better social outcomes.

Keywords:   business stability, social justice, business turnover, social well-being, environmental degradation, health, education, poverty, inequality, rights

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