Aspirations and investments in rural Myanmar
The aspirations gap is the distance between an individual’s current and aspired standard of livelihood. A growing theoretical literature predicts that aspirations both “too close” and “too far” away from current standards lead to less investment in the future. These theories imply an inverted U-shap...
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| Veröffentlicht in: | Journal of economic inequality 2021-12, Vol.19 (4), p.727-752 |
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| container_title | Journal of economic inequality |
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| creator | Bloem, Jeffrey R. |
| description | The aspirations gap is the distance between an individual’s current and aspired standard of livelihood. A growing theoretical literature predicts that aspirations both “too close” and “too far” away from current standards lead to less investment in the future. These theories imply an inverted U-shaped relationship between the aspirations gap and investments. I test this hypothesis and extend existing empirical findings to rural Myanmar by examining the relationship between the income aspirations gap and real estate investment choices. I find that income aspirations that are ahead, but not too far ahead, of current income levels provide the best incentive for investment. Analysis of heterogeneity highlights that this relationship is strongest for those with relatively low income and those who hold fatalistic beliefs. These findings suggest the presence of psychological constraints to poverty alleviation and development in rural Myanmar. |
| doi_str_mv | 10.1007/s10888-021-09478-7 |
| format | Article |
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| ispartof | Journal of economic inequality, 2021-12, Vol.19 (4), p.727-752 |
| issn | 1569-1721 1573-8701 |
| language | eng |
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| source | Springer Nature - Complete Springer Journals; Business Source Complete |
| subjects | Analysis Consumption Development Economics Economic Growth Economics Economics and Finance Expenditures Experiments Households Hypotheses Incentives Inequality International Economics Investments Low income groups Political Science Poverty Public Finance |
| title | Aspirations and investments in rural Myanmar |
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