Inequality-Growth Nexus along the Development Process

doi:10.1515/snde-2012-0037

淡江大學機構典藏 > 商管學院 > 經濟學系暨研究所 > 期刊論文 > Item 987654321/78345

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题名:	Inequality-Growth Nexus along the Development Process
作者:	Lin, Yi-chen;Huang, Ho-chuan;Yeh, Chih-chuan
贡献者:	淡江大學經濟學系
关键词:	economic growth;income inequality;panel data;threshold regression
日期:	2014-05
上传时间:	2012-09-25 21:15:41 (UTC+8)
出版者:	Berlin: Walter de Gruyter GmbH
摘要:	The paper examines whether the effect of inequality on growth varies with the level of economic development. Using a comprehensive panel of annual data for the 48 contiguous US states over the period 1945–2004, we find overwhelming evidence in support of threshold effects in the relationship between inequality and growth. Our analysis shows that while the effect of inequality on growth is significantly negative at lower levels of development, this effect diminishes along the growth process and then turns significantly positive at higher levels of development. Quantitatively, the coefficient estimates imply that when real income per capita is below the threshold of $12,140 (2004 US dollar), a one standard deviation increase in the share of income held by the top 1% of the population reduces the growth rate of real per capita income by 0.6479 percentage points. In contrast, when income per capita is above the threshold of $21,065 (2004 US dollar), a one standard deviation increase in the top percentile income share raises the rate of growth of real per capita income by 0.2561 percentage points.
關聯:	Studies in Nonlinear Dynamics and Econometrics 18(3), p.237–252
DOI:	10.1515/snde-2012-0037
显示于类别:	[財務金融學系暨研究所] 期刊論文 [經濟學系暨研究所] 期刊論文

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