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Abstract

Recent theoretical contributions assert that income inequality impacts negatively humancapital accumulation, and consequently long-run growth. Galor and Zeira 1993 show thatsuch a relationship works primarily through financial constraints, while de la Croix and Doepke2003 demonstrate that the relationship could also work via differential fertility between poorand rich. In this paper, we first test the inequality-human capital-output hypothesis in a sampleof 46 countries for the period 1970—2000. In the baseline estimation specification and variousrobustness checks, we obtain results that lend strong support to this relationship. Second, weexamine which of the two mechanisms, finds more support in the data. and show evidence infavor of the differential fertility mechanism.



Item Type: MPRA Paper -

Original Title: Inequality, Human Capital and Development: Making the Theory Face the Facts-

Language: English-

Keywords: Income inequality, financial constraints, fertility differentials, human capital, economicgrowth-

Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic DevelopmentO - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O15 - Human Resources ; Human Development ; Income Distribution ; MigrationO - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General-





Autor: Papageorgiou, Chris

Fuente: https://mpra.ub.uni-muenchen.de/18973/







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