Income inequality and economic growth
IF 0.9
4区 经济学
Q3 ECONOMICS
引用次数: 0
Abstract
According to the increasing marginal tendency towards tax avoidance, we develop a macro theoretical model and derive an optimal path of economic growth using only dimensionless parameters, which illustrates an inverted U-shaped effect of income inequality on economic growth in the long run. Specifically, economic growth initially moves upwards and subsequently downwards as the Gini coefficient increases. Moreover, this study presents empirical evidence via dynamic GMM estimates based on instrumental variables and PMG estimates relying on cointegration analyses, consistent with the implications of our theoretical model.
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来源期刊
CiteScore
1.90
自引率
12.50%
发文量
39
期刊介绍：
The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to encourage the development of transdisciplinary solutions to social problems. In the introduction to the first issue, John Dewey observed that “the hostile state of the world and the intellectual division that has been built up in so-called ‘social science,’ are … reflections and expressions of the same fundamental causes.” Dewey commended this journal for its intention to promote “synthesis in the social field.” Dewey wrote those words almost six decades after the social science associations split off from the American Historical Association in pursuit of value-free knowledge derived from specialized disciplines. Since he wrote them, academic or disciplinary specialization has become even more pronounced. Multi-disciplinary work is superficially extolled in major universities, but practices and incentives still favor highly specialized work. The result is that academia has become a bastion of analytic excellence, breaking phenomena into components for intensive investigation, but it contributes little synthetic or holistic understanding that can aid society in finding solutions to contemporary problems. Analytic work remains important, but in response to the current lop-sided emphasis on specialization, the board of AJES has decided to return to its roots by emphasizing a more integrated and practical approach to knowledge.
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