LEADER 04054oam 22009134 450 001 9910162925703321 005 20250426110652.0 010 $a9781475569049 010 $a1475569041 010 $a9781475569063 010 $a1475569068 035 $a(CKB)3710000001045047 035 $a(MiAaPQ)EBC4800271 035 $a(IMF)WPIEA2016244 035 $aWPIEA2016244 035 $a(EXLCZ)993710000001045047 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aInequality and Growth : $eA Heterogeneous Approach /$fFrancesco Grigoli, Evelio Paredes, Gabriel Di Bella 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (34 pages) $cillustrations (some color), graphs, tables 225 1 $aIMF Working Papers 311 08$a9781475560527 311 08$a1475560524 320 $aIncludes bibliographical references. 330 3 $aThe combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a heterogeneous panel structural vector autoregression model, which addresses some empirical challenges plaguing the literature. We find that income inequality is converging across countries, and that its impact on economic growth is heterogeneous. In particular, while the median response of real per capita GDP growth to shocks in income inequality is negative and significant, the dispersion around the estimates is large, with at least one fourth of the countries in the sample presenting a positive effect. The results suggest that the negative effect is mainly driven by the Middle East and Central Asia and the Western Hemisphere across regions, and emerging markets across income levels. Finally, we find evidence that improved institutional frameworks can reduce the negative effect of income inequality on growth. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2016/244 606 $aIncome distribution 606 $aEconomic development 606 $aAutoregression (Statistics) 606 $aAggregate Factor Income Distribution$2imf 606 $aEconomic Development: Human Resources$2imf 606 $aEconomic Growth and Aggregate Productivity: General$2imf 606 $aEducation$2imf 606 $aEducation: General$2imf 606 $aHuman Development$2imf 606 $aIncome Distribution$2imf 606 $aIncome distribution$2imf 606 $aIncome inequality$2imf 606 $aIncome shocks$2imf 606 $aIncome$2imf 606 $aMacroeconomics$2imf 606 $aMigration$2imf 606 $aNational accounts$2imf 606 $aPersonal income$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 607 $aNigeria$2imf 615 0$aIncome distribution. 615 0$aEconomic development. 615 0$aAutoregression (Statistics) 615 7$aAggregate Factor Income Distribution 615 7$aEconomic Development: Human Resources 615 7$aEconomic Growth and Aggregate Productivity: General 615 7$aEducation 615 7$aEducation: General 615 7$aHuman Development 615 7$aIncome Distribution 615 7$aIncome distribution 615 7$aIncome inequality 615 7$aIncome shocks 615 7$aIncome 615 7$aMacroeconomics 615 7$aMigration 615 7$aNational accounts 615 7$aPersonal income 615 7$aPersonal Income, Wealth, and Their Distributions 676 $a339.2 700 $aGrigoli$b Francesco$01127643 701 $aDi Bella$b Gabriel$01628570 701 $aParedes$b Evelio$01769949 801 0$bDcWaIMF 906 $aBOOK 912 $a9910162925703321 996 $aInequality and Growth$94245229 997 $aUNINA