Income Distribution and Economic Growth = 소득분배와 경제성장

국문 초록 (Abstract)

경제성장과 소득분배의 연관에 대한 연구는 성장과 관련된 다른 주제들에 비해 상대적으로 광범위하게 이루어지지 않은 면이 있다. 본 연구는 오랜 동안 논쟁이 되어왔던 소득분배와 경제성장의 상호관계에 대해 이론적인 검토를 함으로써 보다 평등한 사회가 더 빠른 경제성장을 이룩한다는 것을 보였다. 중첩세대모형에 기반하고 있는 본 연구의 모델에서는 인적 자본의 수준이 동일하지 않은 젊은 세대가 평생소득을 최대화하는 과정에서 기업가와 노동자가 되는 선택을 하게 되는데, 이 과정을 통해 기업가는 자신의 인적 자본 수준에 따라 서로 다른 소득을 얻게 되는 반면 노동자는 동일한 소득을 얻게 된다. 본 연구는 최초 인적 자본이 비교적 평등하게 분포된 사회에서는 불평등하게 분포된 사회에서보다 인적 자본이 더 빠르게 증가함으로써 경제성장이 빠르게 이루어진다는 것을 이론적으로 보임으로써 보다 평등한 사회가 더 높은 경제성장률을 보인다는 것을 입증하였다. 이 과정에서 기업가의 소득은 기술변혁 등의 다른 조건 없을 경우 시간이 지남에 따라 수렴해가는데, 이는 경제개발 초기단계에서 심화되었던 소득 불평등이 시간에 지남에 따라 서서히 완화되어 간다는 경험적인 사실과 부합된다. 다만 생산에 있어서 자본이나 기술의 공헌 및 변화를 고려하지 않았기 때문에, 궁극적으로 기업가 소득이 동일해진다는 결론에 이른 것은 이 연구의 한계점으로 지적될 수 있다.

다국어 초록 (Multilingual Abstract)

The relationship between economic growth and income distribution has not been extensively studied in the economics literature. This paper tries to provide some insights to a long debated question on whether equal societies grow faster compared to unequal ones, by investigating the theoretical linkage between income distribution and the economic growth process. Based on an overlapping-generations-model with heterogeneous agents, the paper shows how incomes are distributed between and within two classes (the entrepreneurs and working class), and how income distribution affects the economic growth process and vice versa. The model uses human capital as an engine of economic growth and predicts that an equal society grows faster than an unequal one, which is consistent with various empirical studies. The paper also shows how the Lorenz curve changes over time and income inequality declines as an economy grows. (JEL: O11, O15, O30)

목차 (Table of Contents)

• Abstract
• Ⅰ. Introduction
• Ⅱ. Literature Review
• Ⅲ. Model
• Ⅳ. Conclusion
• References
• 국문요약

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