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IMPACT OF INCOME INEQUALITY AND DEFENCE BURDEN ON ECONOMIC GROWTH

Zainab Iftikhar and Amanat Ali (amanat@qau.edu.pk)

The Singapore Economic Review (SER), 2012, vol. 57, issue 03, 1-15

Abstract: This study explores how income inequality and defence burden affects economic growth in different parts of the world. We follow an endogenous growth model that proposes a negative relationship of growth with income inequality and defence burden. The implications of the model are tested using panel data. The results suggest a negative relationship of growth with income inequality and defence burden. A by-product of this analysis is the conclusion regarding convergence. Our study finds no support for convergence across the world.

Keywords: Defence burden; income inequality; economic growth; convergence; endogenous growth model; D30; E60; O40 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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DOI: 10.1142/S0217590812500142

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