A new perspective on economic development and income inequality

Wenli Cheng

doi:10.1111/j.1759-3441.2006.tb00389.x

A new perspective on economic development and income inequality

Wenli Cheng

Department of Economics

Research output: Contribution to journal › Article › Research › peer-review

Abstract

This paper shows that, based on Yang and Zhang's (2003) analysis, economic development can be viewed as an evolutionary process of division of labour that is driven by improvements in transaction efficiency. Both economic development and income inequality are consequences of this process; there is no systematic relationship between the two. Implications of the Yang-Zhang analysis for government policies, including the allocation of foreign aid, are also discussed.

Original language	English
Pages (from-to)	125-130
Number of pages	6
Journal	Economic Papers
Volume	25
Issue number	2
DOIs	https://doi.org/10.1111/j.1759-3441.2006.tb00389.x
Publication status	Published - Jun 2006

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities

Keywords

Economic development
Foreign aid
Income inequality

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10.1111/j.1759-3441.2006.tb00389.x

Cite this

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title = "A new perspective on economic development and income inequality",

abstract = "This paper shows that, based on Yang and Zhang's (2003) analysis, economic development can be viewed as an evolutionary process of division of labour that is driven by improvements in transaction efficiency. Both economic development and income inequality are consequences of this process; there is no systematic relationship between the two. Implications of the Yang-Zhang analysis for government policies, including the allocation of foreign aid, are also discussed.",

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author = "Wenli Cheng",

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AB - This paper shows that, based on Yang and Zhang's (2003) analysis, economic development can be viewed as an evolutionary process of division of labour that is driven by improvements in transaction efficiency. Both economic development and income inequality are consequences of this process; there is no systematic relationship between the two. Implications of the Yang-Zhang analysis for government policies, including the allocation of foreign aid, are also discussed.

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KW - Foreign aid

KW - Income inequality

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DO - 10.1111/j.1759-3441.2006.tb00389.x

M3 - Article

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JF - Economic Papers

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A new perspective on economic development and income inequality

Abstract

UN SDGs

Keywords

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