Inequality and growth: evidence from panel cointegration

被引：0
作者：
Dierk Herzer
Sebastian Vollmer
机构：
[1] University of Wuppertal,Schumpeter School of Business and Economics
[2] Harvard University,Center for Population and Development Studies
[3] University of Hannover,Institute of Macroeconomics
[4] University of Göttingen,Development Economics Research Group
来源：
The Journal of Economic Inequality | 2012年 / 10卷
关键词：
Inequality; Growth; Panel cointegration; O11; O15; C23;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This paper uses heterogeneous panel cointegration techniques to estimate the long-run effect of income inequality on per-capita income for 46 countries over the period 1970–1995. We find that inequality has a negative long-run effect on income, both for the sample as a whole and for important sub-groups within the sample (developed countries, developing countries, democracies, and non-democracies). The effect is economically important, with a magnitude about half as high as the magnitude of an increase in the investment share.
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页码：489 / 503
页数：14
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