关键词: 收入不平等, 经济增长, 收入分配, 经济发展水平

Abstract: Evaluating the impact of income inequality on economic growth is critically important to judge the reforms of Chinas income distribution system in all development stages. This paper incorporates income inequality into the framework of Unified Growth Theory and constructs a theoretical model that endogenously determines population size, inequality and economic growth. The empirical study is carried out using China's provincial panel data and the income inequality index is constructed based on the CGSS data. Empirical results show an inverted Ushaped relationship between inequality and economic growth. Moreover, the inverted Ushaped curve gradually moves to the leftside as economy develops, suggesting that the optimal inequality reduces in pace with the development of the economy. These findings suggest that, since the reform and opening up, Chinas income distribution system reform in each period is the optimal choice under the specific historical conditions. The conclusions of this paper have profound policy implications: the achievements of eliminating poverty should be consolidated and the income inequality should be reduced in line with economic development.

Key words: income inequality, economic growth, income distribution, economic development level