Macroeconomic performance and inequality in Colombia: 1976-1996
Raquel Bernal (),
Mauricio Cardenas (),
Jairo Nunez () and
Fabio Sanchez Torres
Working Papers Series. Documentos de Trabajo from Fedesarrollo
This paper explores the relationship between macroeconomic conditions and urban income distribution in Colombia. The results show that unemployment and inflation have significant regressive effects. Manufacturing output growth is clearly progressive, as well as improved conditions in the rural areas. Currency overvaluation is also related to income concentration. In this sense, it is no suprise that the recent combination of high unemployment, an overvalued currency, and low overall economic growth have resulted in greater inequality. The paper olso finds that unemployment and inflation have an adverse effect on education of the poor. Thus, macroeconomic instability is detrimental for the accumulation of human capital, which in turn has a long-term effect on the distribution of income.
Keywords: Crecimiento Económico; Macroeconomía; Distribución del ingreso; Colombia (search for similar items in EconPapers)
JEL-codes: E2 D31 O1 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000123:009210
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