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Fiscal Policy and Income Inequality in China and BRIC+
出版International Monetary Fund, 2015-03-25
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Public Finance
ISBN14755199749781475519976
URLhttp://books.google.com.hk/books?id=cVgZEAAAQBAJ&hl=&source=gbs_api
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註釋This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we find evidence supporting the hypothesis of the existence of a Kuznets curve—an inverted Ushaped relationship between income inequality and economic development—in China and the panel of BRIC+ countries. In the case of China, the empirical results indicate that government spending and taxation have opposing effects on income inequality. While government spending appears to have a worsening impact, taxation improves income distribution. Even though the redistributive effect of fiscal policy in China appears to be stronger than what we identify in the BRIC+ panel, it is not large enough to compensate for the adverse impact of other influential factors.