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The Relationship Among Poverty, Economic Growth, and Inequality Revisited

Author

Listed:
  • Lonnie K. Stevans

    (Zarb School of Business)

  • David N. Sessions

    (Zarb School of Business)

Abstract

It has been shown in prior research that increased economic growth reduces poverty. Authors have also found that the effect of growth in Gross Domestic Product (GDP) on poverty growth has either diminished or remained unchanged over time, and economic expansion in the 1980s in the United States had no affect on poverty. Using a formal error-correction model, we find that increases in economic growth are significantly related to reductions in the poverty rate for all families. Specifically, GDP growth was found to have a more pronounced effect on poverty during the expansionary periods of the 1960s, 1970s, 1980s, 1990s, and 2000s. Other findings include identification of determinants of the dynamic behavior of poverty rates both in the yearto-year periods and over the long run.

Suggested Citation

  • Lonnie K. Stevans & David N. Sessions, 2008. "The Relationship Among Poverty, Economic Growth, and Inequality Revisited," Journal of Income Distribution, Ad libros publications inc., vol. 17(1), pages 5-20, March.
    • Handle: RePEc:jid:journl:y:2008:v:17:i:1:p:5-20
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    File URL: http://pi.library.yorku.ca/ojs/index.php/jid/article/viewFile/15292/14332
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    Citations

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    Cited by:

    1. Jorge Garza-Rodriguez, 2018. "Poverty and Economic Growth in Mexico," Social Sciences, MDPI, vol. 7(10), pages 1-9, September.
    2. Hasna Khemili & Mounir Belloumi, 2018. "Cointegration Relationship between Growth, Inequality and Poverty In Tunisia," International Journal of Applied Economics, Finance and Accounting, Online Academic Press, vol. 2(1), pages 8-18.

    More about this item

    Keywords

    poverty; economic growth; income inequality; error-correction; cointegration;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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