Pajamų nelygybės poveikio ekonomikos augimui vertinimas kreditų rinkos netobulumo kanalu

LTTyrimo tikslas – sudaryti pajamų nelygybės poveikio ekonomikos augimui kreditų rinkos netobulumo kanalu vertinimo modelį ir jį patikrinti skirtingose šalių grupėse. Tyrimo objektas – pajamų nelygybės poveikis ekonomikos augimui kreditų rinkos netobulumo kanalu. Atlikta mokslinės literatūros analizė, mokslinės literatūros apibendrinimas, palyginimas, statistinių duomenų analizė, grupavimas, panelinių duomenų koreliacinė ir regresinė analizė. Vertinant pajamų nelygybės poveikį ekonomikos augimui taikomas mažiausių kvadratų metodas. Atliekant ekonometrinę analizę duomenys logaritmuojami, diferencijuojami, apskaičiuojama kintamųjų sąveika. Rezultatai pagrįsti 28 ES šalių paneliniais 1995–2014 m. laikotarpio duomenimis. Nustatyta, kad kreditų rinkos netobulumo kanalu pajamų nelygybė ir didėjantis privataus sektoriaus kreditų lygis skatino ekonomikos augimą visose šalių grupėse, tačiau augantis išsilavinimo lygis neskatino ekonomikos augimo. Jis neskatino ekonomikos augimo ir esant prielaidai, kad nėra pajamų nelygybės. [Iš leidinio]Reikšminiai žodžiai: ES šalys; Ekonomikos augimas; Išsilavinimas; Pajamų nelygybė; Pajamų nelygybės įtaka; EU countries; Economic growth; Education; Income inequality; The impact of income inequality.

ENThe aim of research is to assess the impact of income inequality on economic growth through the creditmarket imperfections channel in different groups of countries. The research problem is addressed as: what is the impact of income inequality on economic growth and how to assess the impact of income inequality on economic growth? The research object is the impact of income inequality on economic growth through the credit-market imperfections channel. The research objectives: 1) To theoretically substantiate the creditmarket imperfections channel; 2) To empirically test the possibilities to apply the proposed model in the groups of the EU states formed according to the level of income inequality and the level of income per capita. Research methods: analysis, generalisation, comparison of scientific literature was carried out investigating the theoretical aspect of the impact of income inequality on economic growth. Proceeding with empirical research, analysis of statistical data, grouping, comparative analysis, correlation and regression analysis of panel data was also performed. When assessing the impact of income inequality on economic growth, the method of ordinary least squares was applied. Since errors of the models realised by the method of ordinary least squares are characteristic of heteroscedasticity, values of econometric models were calculated by using robust standard errors (HAC). While carrying out econometric analysis, the data was logarithmised, differentiated, calculating the interaction of variables.The results are grounded on the panel data of 28 EU countries over the period 1995–2014. In the first part of the paper, discussion questions of credit-market imperfections channel are presented. In the second part of the paper, the model for assessment the impact of income inequality on economic growth is designed, substantiating the methods for assessment of the impact of income inequality on economic growth and discussing the variables used in the empirical research. In the third part of the paper, it was found out that after the level of income inequality increased, the increasing private sector credit level stimulated economic growth in the all analysed groups of countries. However, the increasing level of education, after the increase of the level of income inequality, did not promote economic growth. [From the publication]