TY - JOUR
TI - Does Economic Inequality Promote Economic Growth? A Cross-National
Time-Series Analysis
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KW - class
KW - economic
KW - government
KW - income
KW - inequality
KW - market
KW - property
KW - social stratification
AB - This paper uses annual time-series data on a sample of thirty-nine
countries to investigate the impact of inequality on growth over the
1950-1998 period. Our inequality measure is the property-income share
of GDP, selected because it is both the means and the motive for
investment, the proximate cause of growth in most theories.
Cross-national time-series regression analysis of the pooled data
finds only limited evidence that inequality increases subsequent
growth, and only in a few countries. There is no evidence that this
effect can be generalized beyond these few nations. The argument that
inequality promotes economic growth remains largely unsupported.
AU - Raffalovich, Lawrence E.
UR - http://ecsocman.hse.ru/text/17872880/
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LA - EN
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