Is the relationship between inequality and growth affected by physical and human capital accumulation? |
| |
Authors: | Dustin Chambers Alan Krause |
| |
Institution: | 1.Department of Economics and Finance,Salisbury University,Salisbury,USA;2.Department of Economics and Related Studies,University of York,York,UK |
| |
Abstract: | Using the latest available data and semiparametric methods, we investigate how human and physical capital accumulation affects
the relationship between income inequality and subsequent economic growth. We find that higher income inequality generally
reduces economic growth over the next 5-year period. Within nations possessing little human capital, this inequality-growth
penalty is exacerbated by higher levels of physical capital, thus implying that as the returns to human capital rise relative
to physical capital, inequality becomes more harmful to growth. This inequality-growth pattern does not hold in well educated
nations. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|