Titulo:
Redistribución, desigualdad y crecimiento
.
Sumario:
Este artículo emplea un conjunto de datos reciente que distingue entre desigualdad neta y de mercado, y permite calcular las transferencias redistributivas anuales de un gran número de países. Las principales conclusiones son: 1. Sociedades más desiguales tienden a redistribuir más. 2. Una menor desigualdad neta se correlaciona robustamente con un crecimiento más rápido y más durable, dado un nivel de redistribución. 3. El impacto de la redistribución sobre el crecimiento parece ser benigno en general, y hay evidencia de que solo en casos extremos puede tener efectos negativos. Por tanto, sus efectos conjuntos, directos e indirectos –incluidos los efectos de la menor desigualdad resultante–, son favorables al crecimiento. Pese a las limitac... Ver más
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Redistribución, desigualdad y crecimiento Redistribution, inequality, and growth Este artículo emplea un conjunto de datos reciente que distingue entre desigualdad neta y de mercado, y permite calcular las transferencias redistributivas anuales de un gran número de países. Las principales conclusiones son: 1. Sociedades más desiguales tienden a redistribuir más. 2. Una menor desigualdad neta se correlaciona robustamente con un crecimiento más rápido y más durable, dado un nivel de redistribución. 3. El impacto de la redistribución sobre el crecimiento parece ser benigno en general, y hay evidencia de que solo en casos extremos puede tener efectos negativos. Por tanto, sus efectos conjuntos, directos e indirectos –incluidos los efectos de la menor desigualdad resultante–, son favorables al crecimiento. Pese a las limitaciones inherentes al conjunto de datos y al análisis de regresión, no se puede suponer que hay un gran trade-off entre redistribución y crecimiento; los mejores datos macroeconómicos disponibles no respaldan esa hipótesis. This paper takes advantage of a recently-compiled cross-country dataset that distinguishes market inequality from net inequality and allows us to calculate redistributive transfers for a large number of country-year observations. Our main findings are: 1. More unequal societies tend to redistribute more. 2. Lower net inequality is robustly correlated with faster and more durable growth, for a given level of redistribution. 3. R edistribution appears generally benign in terms of its impact on growth; only in extreme cases is there some evidence that it may have direct negative effects on growth. Thus the combined direct and indirect effects of redistribution –including the growth effects of the resulting lower inequality– are on average pro-growth. While we should be cognizant of the inherent limitations of the data set and of cross-country regression analysis more generally, we should be careful not to assume that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support that conclusion. Ostry, Jonathan D. Berg, Andrew Tsangarides, Charalambos G. redistribución desigualdad crecimiento Redistribution inequality growth 16 30 Núm. 30 , Año 2014 : Enero-Junio Artículo de revista Journal article 2014-06-13T00:00:00Z 2014-06-13T00:00:00Z 2014-06-13 application/pdf Universidad Externado de Colombia Revista de Economía Institucional 0124-5996 2346-2450 https://revistas.uexternado.edu.co/index.php/ecoins/article/view/3777 https://revistas.uexternado.edu.co/index.php/ecoins/article/view/3777 spa https://creativecommons.org/licenses/by-nc-sa/4.0/ Aghion, P.; E. Caroli y C. García-P. “Inequality and economic growth: The perspective of the new growth theories”, Journal of Economic Literature 37, 4, 1999, pp. 1615-1660. Alesina, A. y R. Perotti. “Income distribution, political instability and investment”, European Economic Review 40, 6, 1996, pp. 1203-1228. Alesina, A. y D. Rodrik. “Distributive politics and economic growth”, Quarterly Journal of Economics 109, 2, 1994, pp. 465-490. Alvaredo F. 2011, “A Note on the relationship between top income shares and the Gini coefficient”, Economics Letters 110, 3, pp. 274-277. Banerjee, A. V. y E. Duflo. “Inequality and growth: What can the data say?”, Journal of Economic Growth 8, 3, 2003, pp. 267-299. Barro, R. J. “Government spending in a simple model of endogeneous growth”, Journal of Political Economy 98, 5, 1990, pp. 103-125. Barro, R. J. “Inequality and growth in a panel of countries”, Journal of Economic Growth 5, 1, 2000, pp. 5-32. Barro, R. J. y J. W. Lee. “A new data set of educational attainment in the world, 1950-2010”, NBER working paper 15902, Cambridge, Mass., NBER, 2012. Bassett, W. F.; J. P. Burkett y L. Putterman. “Income distribution, government transfers, and the problem of unequal influence”, European Journal of Political Economy 15, 2, 1999, pp. 207-228. Benabou, R. “Unequal Societies: Income distribution and the social contract”, American Economic Review 901, 2000, pp. 96-129. Benabou, R. “Tax and education policy in a heterogeneous-agent economy: What levels of redistribution maximize growth and efficiency?”, Econometrica 70, 2, 2002, pp. 481-517. Benhabib, J. “The tradeoff between inequality and growth”, Annals of Economics and Finance 4, 2, 2003, pp. 491-507. Berg, A. y J. D. Ostry. “Inequality and unsustainable growth: Two sides of the same coin?”, IMF Staff Discussion Note 11/08, Washington, IMF, 2011. Berg, A.; J. D. Ostry y J. Zettelmeyer. “What makes growth sustained?”, Journal of Development Economics 98, 2, 2012, pp. 149-166. Bleaney, M.; N. Gemmell y R. Kneller. “Testing the endogenous growth model: Public expenditure, taxation, and growth over the long run”, Canadian Journal of Economics 34, 1, 2001, pp. 36-57. Caminada, K.; K. Goudswaard y F. Koster. “Social income transfers and poverty: A cross-country analysis for OECD countries”, International Journal of Social Welfare 21, 2, 2012, pp. 115-126. Dollar, D.; T. Kleineberg y A. Kraay. “Growth is still good for the poor”, Policy Research working paper No. 6568, Washington, World Bank, 2013. Dollar, D. y A. Kraay. “Growth is good for the poor”, Journal of Economic Growth 7, 3, 2002, pp. 195-225. Easterly, W. “Inequality does cause underdevelopment: Insights from a new instrument”, Journal of Development Economics 84, 2, 2007, pp.755-776. Forbes, K. J. “A reassessment of the relationship between inequality and growth”, American Economic Review 90, 4, 2000, pp. 869-887. Galor, O. y O. Moav. “From physical to human capital accumulation: Inequality and the process of development”, Review of Economic Studies 71, 4, 2004, pp. 1001-1026. Hausmann, R. y B. Klinger. “Structural transformation and patterns of comparative advantage in the product space”, CID working paper No. 128, Cambridge, Mass., Center for International Development, 2006. Halter, D.; M. Oechslin y J. Zweimuller. “Inequality and growth: The neglected time dimension”, CEPR Discussion Paper No. 8033, Washington, Centre for Economic Policy Research, 2010. IMF, “Fiscal policy and income inequality”, Washington, International Monetary Fund, de próxima publicación, Jaimovich, N. y S. Rebelo. “Non-linear effects of taxation on growth”, working paper No. 18473, Cambridge, Mass., NBER, 2012. Kaldor, N. “A model of economic growth”, The Economic Journal 67, 268, 1957, pp. 591-624. Lane, P. R. y G. Milesi-F. “The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970- 2004”, Journal of International Economics 73, 2, 2007, pp. 223-250. Lazear, E. P. y S. Rosen. “Rank-order tournaments as optimum labor contracts”, Journal of Political Economy 89, 5, 1981, pp. 841-864. Lindert, P. H. Growing public: Social spending and economic growth since the Eighteenth Century, Cambridge, U.K., University Press, 2004. Lustig, N.; C. Pessino y J. Scott. “The impact of taxes and social spending on inequality and poverty in Argentina, Bolivia, Brazil, Mexico, Peru and Uruguay: An overview”, working paper n.º 1313, CIPR, Tulane University, 2013. Meltzer, A. y S. Richard. “A rational theory of the size of government”, Journal of Political Economy 89, 5, 1981, pp. 914-927. Milanovic, B. “The median voter hypothesis, Income inequality, and income redistribution: An empirical test with the required data”, European Journal of Political Economy 16, 3, 2000, pp. 367-410. OCDE. Divided we stand: Why inequality keeps rising, OECD Publishing, 2011. Okun, A. M. Equality and efficiency: The big trade-off, Washington, Brookings Institution Press, 1975. Paulus, A.; M. Cok; F. Figari et al. “The effects of taxes and benefits on income distribution in the enlarged EU”, O. Lelkes y H. Sutherland, eds., An enlarged role for tax benefit models: Assessing policies in the enlarged European Union, Farnham, U.K., Ashgate, 2009. Perotti, R. “Growth, income distribution, and democracy: What the data say”, Journal of Economic Growth 1, 2, 1996, pp. 149-187. Persson, T. y G. Tabellini. “Is inequality harmful for growth?”, The American Economic Review 84, 3, 1994, pp. 600-621. Persson, T. y G. Tabellini. “Federal fiscal constitutions: Risk sharing and redistribution”, Journal of Political Economy 104, 5, 1996, pp. 979-1009. Polity IV. “Polity IV Project: Political regime characteristics and transitions, 1800-2012”, 2012, [http://www.systemicpeace.org/polity/ polity4.htm]. Pritchett, L. “Understanding patterns of economic growth”, World Bank Economic Review 14, 2, 2000, pp. 221-250. Rajan, R. Fault lines: How hidden fractures still threaten the world economy, Princeton, Princeton University Press, 2010. Reich, R. Aftershock: The next economy and America’s future, New York, Random House, 2011. Rodrik, D, “Where did all the growth go? External shocks, social conflict, and growth collapses”, Journal of Economic Growth 4, 4, 1999, pp. 385-412. Saint-Paul, G. y T. Verdier. “Education, democracy and growth”, Journal of Development Economics 42, 2, 1993, pp. 399-407. Saint-Paul, G. y T. Verdier. “Power, distributive conflicts, and multiple growth paths”, Journal of Economic Growth 2, 2, 1997, pp. 155-168. Solt, F. “Standardizing the world income inequality database”, Social Science Quarterly 90, 2, 2009, pp. 231-242. Stiglitz, J. The price of inequality: How today’s divided society endangers our future, New York y London, W. W. Norton & Company, 2012. Tanzi, V. y H. Zee. “Fiscal policy and long-run growth”, IMF Staff Papers 44, 2, 1997, pp. 179-209. Thewissen, S. H. “Is it the income distribution or redistribution that affects growth?”, Socio-Economic Review, 2013, de próxima publicación (anunciado en línea en octubre de 2013). Wilkinson, R. y K. Pickett. The spirit level: Why greater equality makes societies stronger, New York, Bloomsbury Press, 2009. https://revistas.uexternado.edu.co/index.php/ecoins/article/download/3777/3923 info:eu-repo/semantics/article http://purl.org/coar/resource_type/c_6501 http://purl.org/redcol/resource_type/ARTREF info:eu-repo/semantics/publishedVersion http://purl.org/coar/version/c_970fb48d4fbd8a85 info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 Text Publication |
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UNIVERSIDAD EXTERNADO DE COLOMBIA |
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Colombia |
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Revista de Economía Institucional |
| title |
Redistribución, desigualdad y crecimiento |
| spellingShingle |
Redistribución, desigualdad y crecimiento Ostry, Jonathan D. Berg, Andrew Tsangarides, Charalambos G. redistribución desigualdad crecimiento Redistribution inequality growth |
| title_short |
Redistribución, desigualdad y crecimiento |
| title_full |
Redistribución, desigualdad y crecimiento |
| title_fullStr |
Redistribución, desigualdad y crecimiento |
| title_full_unstemmed |
Redistribución, desigualdad y crecimiento |
| title_sort |
redistribución, desigualdad y crecimiento |
| title_eng |
Redistribution, inequality, and growth |
| description |
Este artículo emplea un conjunto de datos reciente que distingue entre desigualdad neta y de mercado, y permite calcular las transferencias redistributivas anuales de un gran número de países. Las principales conclusiones son: 1. Sociedades más desiguales tienden a redistribuir más. 2. Una menor desigualdad neta se correlaciona robustamente con un crecimiento más rápido y más durable, dado un nivel de redistribución. 3. El impacto de la redistribución sobre el crecimiento parece ser benigno en general, y hay evidencia de que solo en casos extremos puede tener efectos negativos. Por tanto, sus efectos conjuntos, directos e indirectos –incluidos los efectos de la menor desigualdad resultante–, son favorables al crecimiento. Pese a las limitaciones inherentes al conjunto de datos y al análisis de regresión, no se puede suponer que hay un gran trade-off entre redistribución y crecimiento; los mejores datos macroeconómicos disponibles no respaldan esa hipótesis.
|
| description_eng |
This paper takes advantage of a recently-compiled cross-country dataset that distinguishes market inequality from net inequality and allows us to calculate redistributive transfers for a large number of country-year observations. Our main findings are: 1. More unequal societies tend to redistribute more. 2. Lower net inequality is robustly correlated with faster and more durable growth, for a given level of redistribution. 3. R edistribution appears generally benign in terms of its impact on growth; only in extreme cases is there some evidence that it may have direct negative effects on growth. Thus the combined direct and indirect effects of redistribution –including the growth effects of the resulting lower inequality– are on average pro-growth. While we should be cognizant of the inherent limitations of the data set and of cross-country regression analysis more generally, we should be careful not to assume that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support that conclusion.
|
| author |
Ostry, Jonathan D. Berg, Andrew Tsangarides, Charalambos G. |
| author_facet |
Ostry, Jonathan D. Berg, Andrew Tsangarides, Charalambos G. |
| topicspa_str_mv |
redistribución desigualdad crecimiento |
| topic |
redistribución desigualdad crecimiento Redistribution inequality growth |
| topic_facet |
redistribución desigualdad crecimiento Redistribution inequality growth |
| citationvolume |
16 |
| citationissue |
30 |
| citationedition |
Núm. 30 , Año 2014 : Enero-Junio |
| publisher |
Universidad Externado de Colombia |
| ispartofjournal |
Revista de Economía Institucional |
| source |
https://revistas.uexternado.edu.co/index.php/ecoins/article/view/3777 |
| language |
spa |
| format |
Article |
| rights |
https://creativecommons.org/licenses/by-nc-sa/4.0/ info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 |
| references |
Aghion, P.; E. Caroli y C. García-P. “Inequality and economic growth: The perspective of the new growth theories”, Journal of Economic Literature 37, 4, 1999, pp. 1615-1660. Alesina, A. y R. Perotti. “Income distribution, political instability and investment”, European Economic Review 40, 6, 1996, pp. 1203-1228. Alesina, A. y D. Rodrik. “Distributive politics and economic growth”, Quarterly Journal of Economics 109, 2, 1994, pp. 465-490. Alvaredo F. 2011, “A Note on the relationship between top income shares and the Gini coefficient”, Economics Letters 110, 3, pp. 274-277. Banerjee, A. V. y E. Duflo. “Inequality and growth: What can the data say?”, Journal of Economic Growth 8, 3, 2003, pp. 267-299. Barro, R. J. “Government spending in a simple model of endogeneous growth”, Journal of Political Economy 98, 5, 1990, pp. 103-125. Barro, R. J. “Inequality and growth in a panel of countries”, Journal of Economic Growth 5, 1, 2000, pp. 5-32. Barro, R. J. y J. W. Lee. “A new data set of educational attainment in the world, 1950-2010”, NBER working paper 15902, Cambridge, Mass., NBER, 2012. Bassett, W. F.; J. P. Burkett y L. Putterman. “Income distribution, government transfers, and the problem of unequal influence”, European Journal of Political Economy 15, 2, 1999, pp. 207-228. Benabou, R. “Unequal Societies: Income distribution and the social contract”, American Economic Review 901, 2000, pp. 96-129. Benabou, R. “Tax and education policy in a heterogeneous-agent economy: What levels of redistribution maximize growth and efficiency?”, Econometrica 70, 2, 2002, pp. 481-517. Benhabib, J. “The tradeoff between inequality and growth”, Annals of Economics and Finance 4, 2, 2003, pp. 491-507. Berg, A. y J. D. Ostry. “Inequality and unsustainable growth: Two sides of the same coin?”, IMF Staff Discussion Note 11/08, Washington, IMF, 2011. Berg, A.; J. D. Ostry y J. Zettelmeyer. “What makes growth sustained?”, Journal of Development Economics 98, 2, 2012, pp. 149-166. Bleaney, M.; N. Gemmell y R. Kneller. “Testing the endogenous growth model: Public expenditure, taxation, and growth over the long run”, Canadian Journal of Economics 34, 1, 2001, pp. 36-57. Caminada, K.; K. Goudswaard y F. Koster. “Social income transfers and poverty: A cross-country analysis for OECD countries”, International Journal of Social Welfare 21, 2, 2012, pp. 115-126. Dollar, D.; T. Kleineberg y A. Kraay. “Growth is still good for the poor”, Policy Research working paper No. 6568, Washington, World Bank, 2013. Dollar, D. y A. Kraay. “Growth is good for the poor”, Journal of Economic Growth 7, 3, 2002, pp. 195-225. Easterly, W. “Inequality does cause underdevelopment: Insights from a new instrument”, Journal of Development Economics 84, 2, 2007, pp.755-776. Forbes, K. J. “A reassessment of the relationship between inequality and growth”, American Economic Review 90, 4, 2000, pp. 869-887. Galor, O. y O. Moav. “From physical to human capital accumulation: Inequality and the process of development”, Review of Economic Studies 71, 4, 2004, pp. 1001-1026. Hausmann, R. y B. Klinger. “Structural transformation and patterns of comparative advantage in the product space”, CID working paper No. 128, Cambridge, Mass., Center for International Development, 2006. Halter, D.; M. Oechslin y J. Zweimuller. “Inequality and growth: The neglected time dimension”, CEPR Discussion Paper No. 8033, Washington, Centre for Economic Policy Research, 2010. IMF, “Fiscal policy and income inequality”, Washington, International Monetary Fund, de próxima publicación, Jaimovich, N. y S. Rebelo. “Non-linear effects of taxation on growth”, working paper No. 18473, Cambridge, Mass., NBER, 2012. Kaldor, N. “A model of economic growth”, The Economic Journal 67, 268, 1957, pp. 591-624. Lane, P. R. y G. Milesi-F. “The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970- 2004”, Journal of International Economics 73, 2, 2007, pp. 223-250. Lazear, E. P. y S. Rosen. “Rank-order tournaments as optimum labor contracts”, Journal of Political Economy 89, 5, 1981, pp. 841-864. Lindert, P. H. Growing public: Social spending and economic growth since the Eighteenth Century, Cambridge, U.K., University Press, 2004. Lustig, N.; C. Pessino y J. Scott. “The impact of taxes and social spending on inequality and poverty in Argentina, Bolivia, Brazil, Mexico, Peru and Uruguay: An overview”, working paper n.º 1313, CIPR, Tulane University, 2013. Meltzer, A. y S. Richard. “A rational theory of the size of government”, Journal of Political Economy 89, 5, 1981, pp. 914-927. Milanovic, B. “The median voter hypothesis, Income inequality, and income redistribution: An empirical test with the required data”, European Journal of Political Economy 16, 3, 2000, pp. 367-410. OCDE. Divided we stand: Why inequality keeps rising, OECD Publishing, 2011. Okun, A. M. Equality and efficiency: The big trade-off, Washington, Brookings Institution Press, 1975. Paulus, A.; M. Cok; F. Figari et al. “The effects of taxes and benefits on income distribution in the enlarged EU”, O. Lelkes y H. Sutherland, eds., An enlarged role for tax benefit models: Assessing policies in the enlarged European Union, Farnham, U.K., Ashgate, 2009. Perotti, R. “Growth, income distribution, and democracy: What the data say”, Journal of Economic Growth 1, 2, 1996, pp. 149-187. Persson, T. y G. Tabellini. “Is inequality harmful for growth?”, The American Economic Review 84, 3, 1994, pp. 600-621. Persson, T. y G. Tabellini. “Federal fiscal constitutions: Risk sharing and redistribution”, Journal of Political Economy 104, 5, 1996, pp. 979-1009. Polity IV. “Polity IV Project: Political regime characteristics and transitions, 1800-2012”, 2012, [http://www.systemicpeace.org/polity/ polity4.htm]. Pritchett, L. “Understanding patterns of economic growth”, World Bank Economic Review 14, 2, 2000, pp. 221-250. Rajan, R. Fault lines: How hidden fractures still threaten the world economy, Princeton, Princeton University Press, 2010. Reich, R. Aftershock: The next economy and America’s future, New York, Random House, 2011. Rodrik, D, “Where did all the growth go? External shocks, social conflict, and growth collapses”, Journal of Economic Growth 4, 4, 1999, pp. 385-412. Saint-Paul, G. y T. Verdier. “Education, democracy and growth”, Journal of Development Economics 42, 2, 1993, pp. 399-407. Saint-Paul, G. y T. Verdier. “Power, distributive conflicts, and multiple growth paths”, Journal of Economic Growth 2, 2, 1997, pp. 155-168. Solt, F. “Standardizing the world income inequality database”, Social Science Quarterly 90, 2, 2009, pp. 231-242. Stiglitz, J. The price of inequality: How today’s divided society endangers our future, New York y London, W. W. Norton & Company, 2012. Tanzi, V. y H. Zee. “Fiscal policy and long-run growth”, IMF Staff Papers 44, 2, 1997, pp. 179-209. Thewissen, S. H. “Is it the income distribution or redistribution that affects growth?”, Socio-Economic Review, 2013, de próxima publicación (anunciado en línea en octubre de 2013). Wilkinson, R. y K. Pickett. The spirit level: Why greater equality makes societies stronger, New York, Bloomsbury Press, 2009. |
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