Inequality and Economic Performance. A Brief Overview to Theories of Growth and Distribution
Опубликовано на портале: 03-12-2003
World Bank Poverty Net.
1999.
Тематические разделы:
Income and wealth distributions can no longer be seen as mere outcomes of the general
equilibrium of an economy. The central processes that determine resource allocation
– through
capital markets, through the political system, and through social circumstances –
are influenced
by the distribution of wealth in important ways. More unequal societies tend to develop
larger
groups of people who are excluded from opportunities others enjoy – be they
a better education,
access to loans, or to insurance – and who therefore do not develop their full
productive
potentials. Both theory and empirical evidence suggest that these incomplete realizations
of
economic potential are not of concern only to those who care about equity per se.
They also
affect aggregate economic potential, and therefore aggregate output and its rate
of growth.
The inverted-U relationship between growth and inequality suggested by Kuznets has
not
survived recent empirical scrutiny terribly well. Instead, it is gradually being
replaced by a
perception that the main flow of causation may be in the other direction, with inequality
hampering the rate and quality of economic growth. The debate is not over, either
conceptually
or empirically. But its very liveliness attests to the importance of the question.
Ключевые слова
См. также:
Journal of Finance.
1957.
Vol. 12.
No. 3.
P. 348-363.
[Статья]
Journal of Business.
1961.
Vol. 34.
No. 4.
P. 411-433.
[Статья]
William Davidson Institute Working Papers Series.
1997.
No. 42.
[Статья]
[Книга]
[Книга]