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Capital market imperfections, income inequality and economic growth: A model approach

机译:资本市场不完善,收入不平等和经济增长:一种模型方法

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This paper develops a model of growth and income inequalities in the presence of imperfect capital markets. It is shown that in the presence of credit market imperfections and indivisibilities in investment in human capital with limited wealth constraints on the part of the borrowers is the source of both capital market imperfections and the emergence of persistent income inequalities. The models suggest income inequality can lead to a lower economic growth and through enhancing the investment opportunity effect that fosters growth. So the policy-makers can design a policy that can improve economic efficiency by redistributing the wealth.
机译:本文建立了在资本市场不完善的情况下增长和收入不平等的模型。研究表明,在信贷市场不完善和对人力资本投资缺乏灵活性以及借款人的财富受到限制的情况下,资本市场不完善和长期收入不平等的出现都是其根源。这些模型表明,收入不平等会导致较低的经济增长,并会通过增强促进增长的投资机会效应而导致经济增长。因此,决策者可以设计一项可以通过重新分配财富来提高经济效率的政策。

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