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Transitional Growth and Income Inequality: Anything Goes

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Author Info

  • Chris Elbers

    (Free University Amsterdam)

  • Jan Willem Gunning

    (Free University Amsterdam)

Abstract

The effect of initial income inequality on growth is the subject of a large literature. We show, both analytically and with simulation experiments, that the same level of initial income inequality can be associated with very different income developments, depending on the source of the inequality. We consider three sources: differences in asset ownership, in productivity and in shocks. For these three sources the monotonicity, the persistence and even the sign of the resulting income changes can differ. We stress the implications for empirical work.

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File URL: http://128.118.178.162/eps/ge/papers/0409/0409001.pdf
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Bibliographic Info

Paper provided by EconWPA in its series GE, Growth, Math methods with number 0409001.

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Length: 15 pages
Date of creation: 08 Sep 2004
Date of revision: 08 Sep 2004
Handle: RePEc:wpa:wuwpge:0409001

Note: Type of Document - pdf; pages: 15
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Web page: http://128.118.178.162

Related research

Keywords: Inequality; Growth; Ramsey models;

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References

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  1. Alesina, Alberto F & Rodrik, Dani, 1991. "Distributive Politics and Economic Growth," CEPR Discussion Papers 565, C.E.P.R. Discussion Papers.
  2. Chris Elbers & Jan Willem Gunning & Bill Kinsey, 2004. "Growth and Risk: Methodology and Micro Evidence," Development and Comp Systems 0408014, EconWPA.
  3. Garcia-Penalosa, Cecilia & Aghion, Philippe & Caroli, Eve, 1999. "Inequality and Economic Growth: The Perspective of the New Growth Theories," Economics Papers from University Paris Dauphine 123456789/10091, Paris Dauphine University.
  4. Thorbecke, Erik & Charumilind, Chutatong, 2002. "Economic Inequality and Its Socioeconomic Impact," World Development, Elsevier, vol. 30(9), pages 1477-1495, September.
  5. Banerjee, Abhijit V & Duflo, Esther, 2003. " Inequality and Growth: What Can the Data Say?," Journal of Economic Growth, Springer, vol. 8(3), pages 267-99, September.
  6. Mattias Lundberg & Lyn Squire, 2003. "The simultaneous evolution of growth and inequality," Economic Journal, Royal Economic Society, vol. 113(487), pages 326-344, 04.
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Cited by:
  1. Schipper, Youdi & Hoogeveen, Johannes G., 2005. "Which inequality matters? Growth evidence based on small area welfare estimates in Uganda," Policy Research Working Paper Series 3592, The World Bank.
  2. Thomas Otter, 2009. "Does Inequality Harm Income Mobility and Growth? An Assessment of the Growth Impact of Income and Education Inequality in Paraguay 1992-2002," Ibero America Institute for Econ. Research (IAI) Discussion Papers 188, Ibero-America Institute for Economic Research.

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