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| Author: | Galor, O. |
| Title: | Income distribution and the process of development |
| Journal: | European Economic Review
2000 : MAY, VOL. 44:4-6, p. 706-712 |
| Index terms: | Income distribution Growth Credit Human capital Models |
| Freeterms: | Constraints |
| Language: | eng |
| Abstract: | This paper examines the evolution of the role of income distribution in the process of development. It presents a unified model that encompasses the transition btw. regimes that have characterized the relationship btw. income inequality and the process of development. This unified modelling provides an intertemporal reconciliation for conflicting viewpoints about the effect of inequality on economic growth - the classical approach arguing that inequality stimulates capital accumulation and economic growth, and the modern approach suggesting, in contrast, that for sufficiently wealthy economies equality stimulates investment in human capital and economic growth. |
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