Inequality and growth: evidence from panel cointegration
2012 | journal article. A publication with affiliation to the University of Göttingen.
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Details
- Authors
- Herzer, Dierk; Vollmer, Sebastian
- Abstract
- This paper uses heterogeneous panel cointegration techniques to estimate the long-run effect of income inequality on per-capita income for 46 countries over the period 1970-1995. We find that inequality has a negative long-run effect on income, both for the sample as a whole and for important sub-groups within the sample (developed countries, developing countries, democracies, and non-democracies). The effect is economically important, with a magnitude about half as high as the magnitude of an increase in the investment share.
- Issue Date
- 2012
- Status
- published
- Publisher
- Springer
- Journal
- The Journal of Economic Inequality
- Organization
- Wirtschaftswissenschaftliche Fakultät
- ISSN
- 1569-1721