Growth-Distribution Trade-offs: The Role of Capacity Utilisation
AbstractPrevious empirical studies of the impact of economic growth on income distribution have consistently found statistically insignificant impact. This paper empirically reexamines this impact for a cross section of thirty-nine (advanced and developing) countries, focusing on a new critical factor, i.e., the presence or absence of economic slack. With this factor included, growth becomes significantly unequalizing in a "capital taut" economy, while the presence of slack capacity plays a significantly equalizing role. This suggests that the insignificant finding of previous studies stems from an "averaging out" of these two opposite impacts when this factor is omitted. Copyright 1988 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 12 (1988)
Issue (Month): 4 (December)
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- Odedokun, Matthew & Round, Jeffery I., 2001. "Determinants of Income Inequality and its Effects on Economic Growth: Evidence from African Countries," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- Muhammad, Shahbaz & Faridul, Islam & Muhammad Sabihuddin, Butt, 2011. "Devaluation and income inequality: Evidence from Pakistan," MPRA Paper 35522, University Library of Munich, Germany, revised 21 Dec 2011.
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