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Income inequality and economic growth: A re-examination of theory and evidence
Review of Development Economics ( IF 1.430 ) Pub Date : 2021-02-23 , DOI: 10.1111/rode.12754
Mehmet Balcilar 1, 2 , Rangan Gupta 3 , Wei Ma 4 , Philton Makena 3
Affiliation  

We re-examine the theoretical and empirical relationship between income inequality and long-run economic growth in an endogenous growth model with a flat tax on income, distributive conflicts among agents, and median voter dynamics. We show that when government spends tax revenue on the provision of public goods in the form of both production and consumption services, the theoretical relationship between inequality and economic growth is neither strictly positive nor strictly negative, but ambiguous. An empirical evaluation of the theoretical findings is carried out by applying a semi-parametric model on a sample of 63 countries for the period 1991–2017. Results show that the relationship between income inequality and growth takes the form of an inverted U-shape in that income inequality initially has a positive impact on growth up to an average Gini coefficient threshold of 35.92, beyond which it negatively impacts on growth.

中文翻译:

收入不平等与经济增长:理论和证据的重新检验

我们将重新审视内生增长模型中收入不平等与长期经济增长之间的理论和经验关系,其中对收入征收固定税,代理商之间的分配冲突以及中位选民动态。我们发现,当政府将税收用于生产和消费服务两种形式的公共产品提供上时,不平等与经济增长之间的理论关系既不是严格意义上的,也不是严格意义上的负面的,而是模棱两可的。通过对1991-2017年期间的63个国家的样本应用半参数模型,对理论发现进行了实证评估。
更新日期:2021-02-23
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