This paper aims to show that the level of inequality increases via the human capital channel, with credit market imperfections generating negative effects on economic growth. We expand the model presented by Galor and Zeira (Galor and Zeira, Review of Economic Studies, 1993, 60, 35–52) to represent the fact that the economy benefits from endogenous technological progress and that the government provides financial aid to reduce the financial hurdles for human capital accumulation. We use Korean data from 1998 to 2008 to empirically confirm that education plays a significant role in the divergence of household wealth over time and that the government's financial aid the form of the new student loans programme positively influences equality and short-run economic growth by promoting the number of skilled workers.

中文翻译：

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不平等如何损害增长：以韩国案例重新审视 Galor-Zeira 模型

本文旨在表明，不平等程度通过人力资本渠道增加，信贷市场不完善对经济增长产生负面影响。我们扩展了 Galor 和 Zeira 提出的模型 (Galor and Zeira, Review of Economic Studies , 1993, 60, 35–52) 代表经济受益于内生技术进步和政府提供财政援助以减少人力资本积累的财务障碍这一事实。我们使用 1998 年至 2008 年的韩国数据实证证实，教育在家庭财富随时间的分化中发挥着重要作用，政府的财政援助（以新的学生贷款计划的形式）通过促进平等和短期经济增长熟练工人的数量。