ALEXEI VEDEV: INCOME EQUALIZATION PROPER IS A FACTOR OF ECONOMIC GROWTH
Alexei Vedev, Leading Researcher of the Financial Studies Lab, the Gaidar Institute made a comment to the TASS News Agency as regards the decision of the Swedish Royal Academy of Sciences to award the Nobel Prize in the economics to three scientists for their research in poverty-fighting.
The research carried out by Abhijit Banerjee, Esther Duflo and Michael Kremer has greatly promoted poverty fight capabilities worldwide, the Nobel Prize Committee underlined.
"The debates on income inequality have been actively going on for five-six years. Within the scope of this topic, there is lots of research and apart fr om the social aspect it concerns the issues of economic growth, too”, Alexei Vedev, Former Deputy Minister of Economic Development notes.
According to Alexei Vedev, it has been established in a number of research that better and more sustainable economic growth is achieved in countries wh ere social differentiation as regards incomes is lower. "Income equalization proper is a factor of economic growth. So, the decision to award the prize for the research in this area is by no means a surprise", Alexei Vedev concludes.
"The debates on income inequality have been actively going on for five-six years. Within the scope of this topic, there is lots of research and apart fr om the social aspect it concerns the issues of economic growth, too”, Alexei Vedev, Former Deputy Minister of Economic Development notes.
According to Alexei Vedev, it has been established in a number of research that better and more sustainable economic growth is achieved in countries wh ere social differentiation as regards incomes is lower. "Income equalization proper is a factor of economic growth. So, the decision to award the prize for the research in this area is by no means a surprise", Alexei Vedev concludes.