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Public Capital, Income Distribution and Growth

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  • Getachew, Yoseph

    () (UNU-MERIT)

Abstract

Public capital investment plays an important role in long run growth through enhancing productivity and complementing the accumulation of private inputs. Under appropriate conditions, public capital could also have important implications for income distribution dynamics. When the credit market is imperfect and there are diminishing returns to private factors, income inequality is negatively related to economic growth. The dynamics of income distribution is determined by relative income shares of private input, wherever initial endowment differs among individuals. Therefore, if the provision of public capital has an effect on relative income shares of private inputs, then it will have an effect on income distribution dynamics. In this case, public capital once more becomes an important determinant of long-run growth through its indirect effect on income distribution. The paper studies this and other interesting issues with respect to public capital, income inequality and economic growth.

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File URL: http://www.merit.unu.edu/publications/wppdf/2008/wp2008-056.pdf
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Bibliographic Info

Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 056.

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Date of creation: 2008
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Handle: RePEc:dgr:unumer:2008056

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Web page: http://www.merit.unu.edu

Related research

Keywords: Income Distribution; Public Capital; Economic Growth;

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  1. Lokshin, Boris & Van Gils, Anita & Bauer, Eva, 2009. "Crafting firm competencies to improve innovative performance," Open Access publications from Maastricht University urn:nbn:nl:ui:27-20502, Maastricht University.
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  4. Soete, Luc, 2008. "Science, Technology and Development: Emerging concepts and visions," UNU-MERIT Working Paper Series 001, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  5. Hall, Andy & Sulaiman, Rasheed & Bezkorowajnyj, Peter, 2008. "Reframing technical change: Livestock Fodder Scarcity Revisited as Innovation Capacity Scarcity: Part 3. Tools for Diagnosis and Institutional Change in Innovation Systems," UNU-MERIT Working Paper Series 004, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  6. Hall, Andy & Sulaiman, Rasheed & Dhamankar, Mona & Bezkorowajnyj, Peter & Prasad, Leela, 2008. "Reframing technical change: Livestock Fodder Scarcity Revisited as Innovation Capacity Scarcity: Part 1. A Review of Historical and Recent Experiences," UNU-MERIT Working Paper Series 002, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  7. Goedhuys, Micheline & Janz, Norbert & Mohnen, Pierre, 2008. "Knowledge-based productivity in low-tech industries: evidence from firms in developing countries," UNU-MERIT Working Paper Series 007, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  8. Hall, Andy & Sulaiman, Rasheed & Bezkorowajnyj, Peter, 2008. "Reframing technical change: Livestock Fodder Scarcity Revisited as Innovation Capacity Scarcity: Part 2. A Framework for Analysis," UNU-MERIT Working Paper Series 003, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
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