Social Conflict and Growth
Despite the predictions of the neoclassical theory of economic growth, we observe that poor countries have invested at lower rates and have not grown faster than rich countries. To explain these empirical regularities we provide a game-theoretic model of conflict between social groups over the distribution of income. Among all possible equilibria, we concentrate on those that are on the constrained Pareto frontier. We study how the level of wealth and the degree of inequality affects growth. We show how lower wealth can lead to lower growth and even to stagnation when the incentives to domestic accumulation are weakened by redistributive considerations. Copyright 1996 by Kluwer Academic Publishers
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Volume (Year): 1 (1996)
Issue (Month): 1 (March)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Galor, Oded & Zeira, Joseph, 1988.
"Income Distribution and Macroeconomics,"
51644, University Library of Munich, Germany, revised 01 Sep 1989.
- Benhabib, Jess & Rustichini, Aldo, 1991. "Social Conflict, Growth and Income Distribution," Working Papers 91-22, C.V. Starr Center for Applied Economics, New York University.
- J. Bradford De Long, "undated".
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_129, University of California at Berkeley, Economics Department.
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- Benhabib, Jess & Ferri, Giovanni, 1987.
"Bargaining and the evolution of cooperation in a dynamic game,"
Elsevier, vol. 24(2), pages 107-111.
- Benhabib, Jess & Ferri, Giovanni, 1987. "Bargaining and the Evolution of Cooperation in a Dynamic Game," Working Papers 87-15, C.V. Starr Center for Applied Economics, New York University.
- N. Gregory Mankiw & David Romer & David N. Weil, 1990.
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3541, National Bureau of Economic Research, Inc.
- Baumol, William J & Wolff, Edward N, 1988. "Productivity Growth, Convergence, and Welfare: Reply," American Economic Review, American Economic Association, vol. 78(5), pages 1155-1159, December.
- Persson, T. & Tabellini, G., 1993.
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537, Stockholm - International Economic Studies.
- Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 501-526.
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