Economic theory and underdeveloped regions

TL;DR: This paper found that there is generally little relationship between risk aversion and an income measure of poverty, but a strong relationship between the latter and asset levels and returns, concluding that the poor are trapped into poverty as a result of their risk aversion, precluding the level of investment needed to lift them out of poverty.

TL;DR: This paper reviewed and evaluated the analytical literature on the interdependencies of agglomeration and central place theory and emphasized that economic agents tend to cluster at points of differential centrality on the economic landscape, and that this clustering process can provide even further savings to both producers and consumers.

TL;DR: In the early twenty-first century, income distribution became once again an important point of focus, both for policy and analysis as discussed by the authors, stimulated in part by concerns that globalisation was creating forces in many countries that were exacerbating greater inequalities of income distribution, which required positive corrective action.

TL;DR: In this paper, the authors survey developments of the Thirlwall model since then, allowing for capital flows, interest payments on debt, terms of trade movements, and disaggregation of the model by commodities and trading partners.