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How Macroeconomic Factors Affect Income Distribution; The Cross-Country Evidence

  • Michael Sarel
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    This study develops a cross-section empirical framework to examine the relationship between the macroeconomic environment and trends in income distribution. The macroeconomic variables that are found to be associated with an improvement in income distribution are higher growth rate, higher income level, higher investment rate, real depreciation (especially for low-income countries), and improvement in terms of trade. The estimated significant effects of growth, income, and investment provide evidence that policies designed to promote investment and growth are likely also to contribute to an improvement in income distribution.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2407
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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 97/152.

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    Length: 25
    Date of creation: 01 Nov 1997
    Date of revision:
    Handle: RePEc:imf:imfwpa:97/152
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    1. Beyer, Harald & Rojas, Patricio & Vergara, Rodrigo, 1999. "Trade liberalization and wage inequality," Journal of Development Economics, Elsevier, vol. 59(1), pages 103-123, June.
    2. Deininger, Klaus & Squire, Lyn, 1996. "A New Data Set Measuring Income Inequality," World Bank Economic Review, World Bank Group, vol. 10(3), pages 565-91, September.
    3. Richard Dickens & Stephen Machin & Alan Manning & David Metcalf & Jonathan Wadsworth & S Woodland, 1994. "The Effect of Minimum Wages on UK Agriculture," CEP Discussion Papers dp0204, Centre for Economic Performance, LSE.
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    8. Persson, Torsten & Tabellini, Guido, 1994. "Is Inequality Harmful for Growth?," American Economic Review, American Economic Association, vol. 84(3), pages 600-621, June.
    9. Lustig, N. & Mcleod, D., 1996. "Minimum Wages and Poverty in Developing Countries : Some Empirical Evidence," Papers 125, Brookings Institution - Working Papers.
    10. Deininger, Klaus & Squire, Lyn, 1998. "New ways of looking at old issues: inequality and growth," Journal of Development Economics, Elsevier, vol. 57(2), pages 259-287.
    11. David E. Bloom & David Canning & Günther Fink, 2008. "Population Aging and Economic Growth," PGDA Working Papers 3108, Program on the Global Demography of Aging.
    12. Perotti, Roberto, 1993. "Political Equilibrium, Income Distribution, and Growth," Review of Economic Studies, Wiley Blackwell, vol. 60(4), pages 755-76, October.
    13. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Wiley Blackwell, vol. 60(1), pages 35-52, January.
    14. Anderson, Dennis, 1982. "Small industry in developing countries: A discussion of issues," World Development, Elsevier, vol. 10(11), pages 913-948, November.
    15. Antonio Spilimbergo & Juan Luis Londoño & Miguel Székely, 1997. "Income Distribution, Factor Endowments, and Trade Openness," Research Department Publications 4088, Inter-American Development Bank, Research Department.
    16. Kanbur, Ravi & Lustig, Nora, 1999. "Why is Inequality Back on the Agenda?," Working Papers 127690, Cornell University, Department of Applied Economics and Management.
    17. Lipton, Michael, 1993. "Land reform as commenced business: The evidence against stopping," World Development, Elsevier, vol. 21(4), pages 641-657, April.
    18. Khoo, L. & Dennis, B., 1999. "Income Inquality, Fertility Choice, and Economic Growth: Theory and Evidence," Papers 687, Harvard - Institute for International Development.
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