How Does Wealth in equality Affect the Economic Development of a Country? Comparative Analysis For the Brics Countrie

Abstract

This study examines the impact of wealth inequality on economic growth in BRICS countries using an econometric model. Our findings suggest that while wealth inequality does not significantly affect longterm GDP per capita growth, a weak positive relationship is observed in the short run. The study emphasizes the crucial roles of innovation, employment, and public debt in shaping economic growth dynamics. These insights contribute to understanding the complex relationship between wealth distribution and economic development in BRICS economies.