Crecimiento económico y desigualdad: una revisión bibliográfica

In the last decades there has been increased interest in studying the impact of inequality on growth. Most of the recent literature points to a negative impact of inequality on future growth but there are also models that argue in favor of a positive relationship or a non linear one. A possible channel through which inequality may impact on growth comes from the political economy (mechanisms such as the median voter or also the presence of lobbies). Imperfections in the capital markets, in particular in the credit market that place a constraint on investment in human capital by the poorest represent another possible mechanism. Social conflict due to high inequality may also affect growth. Besides, some authors suggest that the link between fertility and human capital investment may be a relevant channel. The empirical evidence on the sign of the impact and the relevant channels is not conclusive. This paper revises both the theoretical and empirical literature on this issue.