| Abstract [eng] |
This master 's thesis assesses the impact of income inequality on economic growth in groups of countries with different levels of development. The theoretical part of this master's thesis analyzes the scientific literature, which discusses the concept and characteristics of the phenomenon of income inequality. The discussion of the concept of income inequality, followed by an analysis of indicators to measure income inequality, which reflects the advantages, disadvantages and calculation formulas of these indicators. Later, the concept of economic growth and theories that explain the assumptions of economic growth are analyzed. Factors influencing economic growth, which are commonly used by researchers to study the impact of income inequality on economic growth, are also analyzed. We then move on to summarizing the theories that underpin the impact of income inequality on economic growth, and at the end of the chapter provide an analysis and discussion of empirical research that has analyzed the impact of all income inequality on economic growth. The second part of the final work substantiates the research period and the countries studied, as well as the rationale for the variables used in the empirical study, describes the research methods, and presents the econometric model to be followed in the third part. The assumptions to be met by a suitable econometric model are substantiated and finally the hypotheses are raised, which will be tested in the last part of the work and the limitations of this study are discussed. In the practical part of the work, first of all, a dynamic analysis of all four indicators of income inequality (Gini index, first decile, tenth decile and decile ratio) in all four groups of countries in 2004-2018 is performed period. An analysis of real GDP per capita and its changes over the same period is analyzed for all groups of countries. And then we move on to the regression analysis, which aims to determine the direction and strength of the impact of income inequality on economic growth in different groups of countries, assessing and interpreting the results. The results showed that income inequality in low-income and lower-middle-income groups inhibits economic growth, while in high-income countries it stimulates economic growth. |
