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"Income equality"
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Globalization and income inequality in developing economies: A comprehensive analysis
Around the world, people are becoming more and more worried about how globalization will affect their standard of living. According to the literature, globalization has resulted in the marginalization of the impoverished populations in developing economies and has exacerbated inequality, while the opposite may also be true. The objective of this study is to investigate the impact of globalization on income inequality. The study used two-stage least squares (2SLS) to study the influence of globalization on income inequality in 18 developing countries from 1991-2021. Utilizing the KOF index of globalization, it is determined that globalization, together with its three aspects, has a negative effect on income inequality among developing economies. Evidence demonstrates that the combination of trade openness and foreign direct investment (FDI) plays a significant role in reducing inequality among developing economies. We recommend developing economies actively support globalization in terms of trade and FDI in accordance with the findings. By expanding trade opportunities and opening up markets, globalization can benefit developing nations. This may result in a rise in FDI, the creation of jobs, and technological developments. Governments can contribute to raising the living standards of their inhabitants, lowering rates of poverty, and closing the income gap by promoting globalization. Although the study emphasizes the well-established link between globalization and income inequality, it focuses on the effects of various globalization dimensions, emphasizing the need to comprehend how different dimensions of globalization, namely economic, political, and social globalization affects inequality in developing economies.
Journal Article
A brief history of equality
\"In this powerful new work, Thomas Piketty reminds us that rising inequality is not inevitable. Over the centuries, we have been moving toward greater equality. Piketty guides us with elegance and concision through the great movements that have made the modern world and shows how we can learn from them to make equality a lasting reality\"-- Provided by publisher.
Book
Inflation-income inequality nexus in South Africa: The role of inflationary environment
We estimate vector autoregressive models to examine the effect of the 3 to 6 per cent inflation target band in the inflation and income inequality nexus in South Africa. We use quarterly data spanning 1993Q1 to 2016Q3 to analyse how growth in income inequality responds to positive inflation shocks when inflation is within the 3 to 6 per cent target band versus when it exceeds 6 per cent. Evidence indicates that positive inflation shocks within the 3 to 6 per cent inflation target band lead to an insignificant decline in income inequality. However, greater income inequality results when inflation exceeds 6 per cent threshold. This suggests that the inflation-income inequality nexus in South Africa is nonlinear due to the 3 to 6 per cent inflation target range. Thus, inflation above 6 per cent is harmful as it increases income inequality. Policymakers should pursue policies that maintain the existing target band.
Journal Article
The Impact of Forestry Management Participation on Rural Household Income and Inequality: Evidence from Guizhou Province, China
With the transformation of the rural economy and the increasing national emphasis on forest resources, forestry management plays an increasingly important role in promoting household income growth and sustainable rural development. This study, based on a field survey of 1043 micro-level household data collected in Guizhou Province, China, empirically analyzes the impact of participation in forestry management on household income, income structure, and income inequality, as well as its underlying mechanisms. Using endogenous switching models, quantile regression models, and mediation effect models, the study reveals the following findings: First, participation in forestry management significantly enhances household income. Second, the impact of participation in forestry management on income structure varies, significantly increasing both forestry and non-forestry income, with the effect on forestry income being particularly pronounced. Third, participation in forestry management significantly alleviates income inequality, especially for low-income households. Fourth, forestry management indirectly increases household income and non-forestry income by promoting forest-based employment. Forest-based employment acts as a partial mediator in the effect of forestry management on household income and a full mediator in the increase in non-forestry income. The contribution of this study lies in its multidimensional approach to revealing the comprehensive impact of participation in forestry management on rural household income, providing important policy insights for increasing household income and achieving sustainable rural development.
Journal Article
Investigating the Effect of Income Inequality on Corruption: New Evidence from 23 Emerging Countries
This paper studies the impact of income inequality on corruption, a research problem that is often overlooked by the literature. The existing literature offers a detachment view in which controls of corruption decrease income inequality. However the existence of a large informal sector in emerging countries may reverse the causality, i.e., inequality effects corruption. Using a balanced panel data for 23 emerging countries from 1996 to 2017 fitted in static mehtods pooled ordinary least square, fixed effect, random effect, IV regressions, and dynamic difference and system generalized method of moment's approch, we find that higher inequality levels lead to higher control of corruption. For different income groups, we find a U-shaped relationship for the high income emerging countries while the results of system GMM confirm the inverted U-shaped relationship for upper middle income emerging panel countries. Furthermore, the study also finds the uni-directional causality between corruption and income inequality.
Journal Article
A republic of equals : a manifesto for a just society
\"Political equality is the most basic tenet of democracy. Yet in America and other democratic nations, those with political power have special access to markets and public services. A Republic of Equals traces the massive income inequality observed in the United States and other rich democracies to politicized markets and avoidable gaps in opportunity-and explains why they are the root cause of what ails democracy today. In this provocative book, economist Jonathan Rothwell draws on the latest empirical evidence from across the social sciences to demonstrate how rich democracies have allowed racial politics and the interests of those at the top to subordinate justice. He looks at the rise of nationalism in Europe and the United States, revealing how this trend overlaps with racial prejudice and is related to mounting frustration with a political status quo that thrives on income inequality and inefficient markets. But economic differences are by no means inevitable. Differences in group status by race and ethnicity are dynamic and have reversed themselves across continents and within countries. Inequalities persist between races in the United States because Black Americans are denied equal access to markets and public services. Meanwhile, elite professional associations carve out privileged market status for their members, leading to compensation in excess of their skills. A Republic of Equals provides a bold new perspective on how to foster greater political and social equality, while moving societies closer to what a true republic should be.\"--Dust jacket.
Book
The Influence of Asset Status on Income Equality Considering Digital Inclusive Finance and Equity Concentration: Evidence From China
The purpose of this study is to investigate the impact of asset status and external factors related to asset status on income distribution disparities among senior executives, employees, and shareholders. Incorporating micro-level data and theoretical analysis, the data of Chinese a-share listed companies from 2012 to 2021 are selected for panel regression analysis. Existing research has often focused on the main differences in income between employees and executives. This study reveals that the distribution of total corporate income among employees, executives, and shareholders can better reflect the fluctuating trend of income variance among different groups. It was found that asset efficiency, asset market value, and asset property rights, among other asset status factors, significantly influence the degree of inequality in income distribution. Empirical research results indicated that corporate executives can benefit similarly to shareholders from improvements in asset efficiency and other asset status factors. Following an increase in corporate cash holdings, executives tend to benefit more relative to employees. Additionally, digital inclusive finance and equity concentration both have moderating effects, mitigating the impact of asset status on inequality in income distribution.
Plain Language Summary
This new study bridges the identified gaps in the literature, and the current research intends to investigate the effect of asset status on income distribution. As far as we know, this paper is the first time to select total executive compensation, total employee compensation and shareholder returns are adopted as the basic variables to measure the polarization of wealth distribution, and to combine the regulating role of digital inclusive finance and equity concentration.
Journal Article