Inverted u-shaped relationship between inequality and economic performance

Matsumoto, Yuichiro

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論文情報

タイトル	Inverted u-shaped relationship between inequality and economic performance
著者	Matsumoto, Yuichiro Matsumoto, Yuichiro
キーワード等	Income inequality
	Economic development
	Economic development
	Misallocation of capital
抄録	This paper shows that in a borrowing-constrained economy, a median level of inequality stimulates investment, whereas low and high levels of inequality dampen investment. This nonlinearity is a result of two eﬀects. There are more rich individuals in an equal economy than in an unequal economy. Therefore, more individuals can invest. However, in an equal economy, rich individuals have less wealth than they would in an unequal economy, which can dampen investment. My paper shows that these two effects produce nonlinearity if investment is indivisible
公開者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
掲載誌名	Discussion Papers In Economics And Business
巻	14-19
開始ページ	1
終了ページ	17
刊行年月	2014-04
URL	http://hdl.handle.net/11094/28145
関連情報 (references)	http://www2.econ.osaka-u.ac.jp/library/global/dp/1419.pdf
言語	英語
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP

著者版フラグ	none
NII資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
dcmi資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business.14-19 P.1-P.17
DC.title	Inverted u-shaped relationship between inequality and economic performance
DC.creator	Matsumoto, Yuichiro
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
DC.language" scheme="DCTERMS.RFC1766	英語
DCTERMS.issued" scheme="DCTERMS.W3CDTF	2014-04
DC.identifier" scheme="DCTERMS.URI	http://hdl.handle.net/11094/28145
DC.subject	Income inequality
	Economic development
	Economic development
	Misallocation of capital
DCTERMS.abstract	This paper shows that in a borrowing-constrained economy, a median level of inequality stimulates investment, whereas low and high levels of inequality dampen investment. This nonlinearity is a result of two eﬀects. There are more rich individuals in an equal economy than in an unequal economy. Therefore, more individuals can invest. However, in an equal economy, rich individuals have less wealth than they would in an unequal economy, which can dampen investment. My paper shows that these two effects produce nonlinearity if investment is indivisible
citation_title	Inverted u-shaped relationship between inequality and economic performance
citation_author	Matsumoto, Yuichiro
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
citation_language	英語
citation_date	2014-04
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	14-19
citation_firstpage	1
citation_lastpage	17
citation_public_url	http://hdl.handle.net/11094/28145
citation_keywords	Income inequality
	Economic development
	Economic development
	Misallocation of capital

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