Inequality and Economic Growth

• Tác giả: Markus Brueckner
• Ngôn ngữ: eng
• Ký hiệu phân loại: 339.22 Distribution of aggregate personal income and wealth
• Thông tin xuất bản: World Bank, Washington, DC, 2018
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 320672
• Chủ đề: 1. ECONOMIC GROWTH; 2. GINI COEFFICIENT; 3. INEQUALITY; 4. TRANSITIONAL GROWTH

Tóm tắt

 This paper estimates a panel model in which the relationship between inequality and gross domestic product per capita growth depends on countries' initial incomes. Estimates of the model show that the relationship between inequality and gross domestic product per capita growth is significantly decreasing in countries' initial incomes. The results from instrumental variables regressions show that in low-income countries, transitional growth is boosted by greater income inequality. In high-income countries, inequality has a significant negative effect on transitional growth. For the median country in the world that in 2015 had a purchasing power parity gross domestic product per capita of around US0,000, instrumental variables estimates predict that a 1 percentage point increase in the Gini coefficient decreases gross domestic product per capita growth over a five-year period by over 1 percentage point
  the long-run effect on the level of gross domestic product per capita is around -5 percent.