Inequality, Tolerance, and Growth

Christian Bjørnskov

Inequality, Tolerance, and Growth

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Abstract

This paper argues for the importance of individuals' tolerance of inequality for economic growth. By using the political ideology of governments as a measure of revealed tolerance of inequality, the paper shows that controlling for ideology improves the accuracy with which the effects of inequality are measured. Results show that inequality reduces growth but more so in societies where people perceive it as being relatively unfair. Further results indicate that legal quality and social trust are likely transmission channels for the effects of inequality.

Translated title of the contribution	Inequality, Tolerance, and Growth
Original language	English
Publication date	2004
Publication status	Published - 2004
Event	Public Choice Society Annual Meeting, Baltimore, Maryland, US - Duration: 11 Mar 2004 → 14 Mar 2004

Conference

Conference	Public Choice Society Annual Meeting, Baltimore, Maryland, US
Period	11/03/2004 → 14/03/2004

Keywords

Inequality
Growth
Social Capital

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abstract = "This paper argues for the importance of individuals' tolerance of inequality for economic growth. By using the political ideology of governments as a measure of revealed tolerance of inequality, the paper shows that controlling for ideology improves the accuracy with which the effects of inequality are measured. Results show that inequality reduces growth but more so in societies where people perceive it as being relatively unfair. Further results indicate that legal quality and social trust are likely transmission channels for the effects of inequality.",

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AB - This paper argues for the importance of individuals' tolerance of inequality for economic growth. By using the political ideology of governments as a measure of revealed tolerance of inequality, the paper shows that controlling for ideology improves the accuracy with which the effects of inequality are measured. Results show that inequality reduces growth but more so in societies where people perceive it as being relatively unfair. Further results indicate that legal quality and social trust are likely transmission channels for the effects of inequality.

KW - Inequality

KW - Growth

KW - Social Capital

KW - Inequality

KW - Growth

KW - Social Capital

M3 - Paper

T2 - Public Choice Society Annual Meeting, Baltimore, Maryland, US

Y2 - 11 March 2004 through 14 March 2004

ER -