04054oam 22009134 450 991016292570332120250426110652.09781475569049147556904197814755690631475569068(CKB)3710000001045047(MiAaPQ)EBC4800271(IMF)WPIEA2016244WPIEA2016244(EXLCZ)99371000000104504720020129d2016 uf 0engurcnu||||||||rdacontentrdamediardacarrierInequality and Growth : A Heterogeneous Approach /Francesco Grigoli, Evelio Paredes, Gabriel Di BellaWashington, D.C. :International Monetary Fund,2016.1 online resource (34 pages) illustrations (some color), graphs, tablesIMF Working Papers9781475560527 1475560524 Includes bibliographical references.The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a heterogeneous panel structural vector autoregression model, which addresses some empirical challenges plaguing the literature. We find that income inequality is converging across countries, and that its impact on economic growth is heterogeneous. In particular, while the median response of real per capita GDP growth to shocks in income inequality is negative and significant, the dispersion around the estimates is large, with at least one fourth of the countries in the sample presenting a positive effect. The results suggest that the negative effect is mainly driven by the Middle East and Central Asia and the Western Hemisphere across regions, and emerging markets across income levels. Finally, we find evidence that improved institutional frameworks can reduce the negative effect of income inequality on growth.IMF Working Papers; Working Paper ;No. 2016/244Income distributionEconomic developmentAutoregression (Statistics)Aggregate Factor Income DistributionimfEconomic Development: Human ResourcesimfEconomic Growth and Aggregate Productivity: GeneralimfEducationimfEducation: GeneralimfHuman DevelopmentimfIncome DistributionimfIncome distributionimfIncome inequalityimfIncome shocksimfIncomeimfMacroeconomicsimfMigrationimfNational accountsimfPersonal incomeimfPersonal Income, Wealth, and Their DistributionsimfNigeriaimfIncome distribution.Economic development.Autoregression (Statistics)Aggregate Factor Income DistributionEconomic Development: Human ResourcesEconomic Growth and Aggregate Productivity: GeneralEducationEducation: GeneralHuman DevelopmentIncome DistributionIncome distributionIncome inequalityIncome shocksIncomeMacroeconomicsMigrationNational accountsPersonal incomePersonal Income, Wealth, and Their Distributions339.2Grigoli Francesco1127643Di Bella Gabriel1628570Paredes Evelio1769949DcWaIMFBOOK9910162925703321Inequality and Growth4245229UNINA