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The Kuznets Curve and Beyond: Growth and Changes in Inequalities

In: Economic Growth and Resources

Author

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  • Edmar L. Bacha

    (University of Brasilia)

Abstract

The Kuznets curve — an inverse-U shaped relation between income inequality and GNP per capita — plays in development economics a role similar to that of the Phillips curve in modern macroeconomics. Both are ‘measurements without a theory’ which have forced a reconsideration of entrenched analytical schemes. Their strength lies in bringing neglected variables of critical importance for economic policy-making into sharper focus. The Phillips curve challenges the IS-LM framework, and places the inflation rate at the centre of the macroeconomic stage. The Kuznets curve concerns the size distribution of income and questions the emphasis of formal growth models on factor shares and modern sector output growth.

Suggested Citation

  • Edmar L. Bacha, 1979. "The Kuznets Curve and Beyond: Growth and Changes in Inequalities," International Economic Association Series, in: Edmond Malinvaud (ed.), Economic Growth and Resources, chapter 2, pages 52-88, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-16173-7_2
    DOI: 10.1007/978-1-349-16173-7_2
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    Cited by:

    1. Mendis, Patrick, 1992. "The Political Economy Of Poverty Alleviation In Developing Countries: Is Sri Lanka Really An Exception?," Staff Papers 14052, University of Minnesota, Department of Applied Economics.
    2. YUJIRO HAyAMI & VERNON W RUTTAN, 1984. "The Green Revolution: Inducement and Distribution," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 23(1), pages 37-63.
    3. Michael Pammer, 2015. "Income inequality in Imperial Austria, 1911," Working Papers 15028, Economic History Society.

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