Effects of Income Inequality on Aggregate Output

Brueckner, Markus; Lederman, Daniel

Effects of Income Inequality on Aggregate Output

2015

Brueckner, Markus | Lederman, Daniel

This paper estimates the effect of income inequality on real gross domestic product per capita using a panel of 104 countries during the period 1970–2010. The empirical analysis addresses endogeneity issues by using instrumental variables estimation and controlling for country and time fixed effects. The analysis finds that, on average, income inequality has a significant negative effect on transitional gross domestic product per capita growth and the long-run level of gross domestic product per capita. However, the impact varies by the level of economic development, so much so that in poor countries income inequality has a significant positive effect on gross domestic product per capita.

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Palabras clave de AGROVOC

capital consumption credit data quality developing countries development development economics development indicators econometrics economic development economic growth economics gross domestic product growth human capital income income distribution indicators instruments investment land ownership macroeconomics national income poverty taxes trade war

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Editorial

World Bank, Washington, DC

Otras materias

Product; Economic theory; Policy circles; Fiscal policy; Income inequality; Income shares; Policy discussions; Gdp per capita; Income level; Economics of education; Lagged values; Foreign aid; Income inequality data; Estimated coefficients; Aggregate output; Gini coefficient; Marginal effect; Per capita growth; Cross-country differences; Measures; Empirical results; Empirical analysis; Rich countries; Significance level; Empirical literature; Error term; Dependent variable; Policy research; Land inequality; Wealth; Relative prices; Industrialized countries; Significant negative; Fixed effects; Empirical studies; Poor; Data sets; Negative effect; International comparisons; Data set; Dynamic panel; Income quintiles; Descriptive statistics; Theory; Incomes; Gross domestic product per capita; Empirical research; Distribution of wealth; Inequality data; Credit market; Value; Country level; Economic review; Educational attainment; Inequality coefficient; Rising inequality; Credit market imperfections; Positive effect; Explanatory variable; Long run; Development policy; Empirical evidence; Market imperfections; Econometric model; Inequality; Standard deviation; Individual countries; Empirical level; Middle income countries; Poor countries; Negative coefficient; Capital investment; Estimated coefficient; Secondary schooling; Economic studies; Gdp; Real gdp; Lagged dependent; Government expenditures; Variables; Income share; Capital accumulation

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Inglés

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application/pdf, text/plain

Licencia

CC BY 3.0 IGO, http://creativecommons.org/licenses/by/3.0/igo/, World Bank

Tipo

Working Paper; Work; Working Paper

En AGRIS desde: 2024-10-18

Fecha de modificación: 2025-10-25

Formato: Dublin Core

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Enlaces

DOI http://documents.worldbank.org/curated/en/2015/06/24679226/effects-income-inequality-aggregate-output https://hdl.handle.net/10986/22203

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Effects of Income Inequality on Aggregate Output

2015

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