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Equitable Redistribution and Inefficiency under Credit Rationing

Author

Listed:
  • Beladi Hamid

    (University of Texas at San Antonio, San Antonio, USA)

  • Marjit Sugata

    (Hong Kong Polytechnic University, Hong Kong, China)

  • Mishra Suryaprakash

    (National Law School of India University, Bengaluru, India)

  • Oladi Reza

    (Utah State University, Logan, USA)

Abstract

It has been argued in many policy circles that lack of access to credit by the poor may be a source of inefficiency in developing economies. Then, conventional wisdom may suggest that asset redistribution from the rich to the poor improves efficiency. In contrast, we develop a general equilibrium model with credit market and show that such an egalitarian redistribution of assets may indeed lead to inefficiency.

Suggested Citation

  • Beladi Hamid & Marjit Sugata & Mishra Suryaprakash & Oladi Reza, 2025. "Equitable Redistribution and Inefficiency under Credit Rationing," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 25(3), pages 731-743.
    • Handle: RePEc:bpj:bejeap:v:25:y:2025:i:3:p:731-743:n:1009
    DOI: 10.1515/bejeap-2024-0332
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    Keywords

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    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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