One Third of the World's Growth and Inequality
AbstractThis Paper studies growth and inequality in China and India – two economies that account for a third of the world’s population. By modelling growth and inequality as components in a joint stochastic process, the Paper calibrates the impact each has no different welfare indicators and on the personal income distribution across the joint population of the two countries. For personal income inequalities in a China-India universe, the forces assuming first-order importance are macroeconomic – growing average incomes dominate all else. The relation between aggregate economic growth and within-country inequality is insignificant for inequality dynamics.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3316.
Date of creation: Apr 2002
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- D30 - Microeconomics - - Distribution - - - General
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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