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Natural resources and income inequality in developed countries: synthetic control method evidence

Author

Listed:
  • Christopher Hartwell

    (Zurich University of Applied Sciences
    Kozminski University)

  • Roman Horvath

    (Charles University
    University of Ss. Cyril and Methodius in Trnava)

  • Eva Horvathova

    (Czech Academy of Sciences
    Mendel University in Brno)

  • Olga Popova

    (Leibniz Institute for East and Southeast European Studies
    CERGE-EI, A Joint Workplace of Charles University and the Economics Institute of the Czech Academy of Sciences
    Ural Federal University)

Abstract

We examine the causal effect of natural resource discoveries on income inequality using the synthetic control method on data from 1947 to 2009. We focus on the natural discoveries in Denmark, Netherlands, and Norway in the 1960–1970s and use top 1% and top 10% income share as the measure of income inequality. Many previous studies have been concerned that natural resources may increase income inequality. To the contrary, our results suggest that natural resources decrease income inequality or have no effect. We attribute this effect to the high institutional quality of countries we examine.

Suggested Citation

  • Christopher Hartwell & Roman Horvath & Eva Horvathova & Olga Popova, 2022. "Natural resources and income inequality in developed countries: synthetic control method evidence," Empirical Economics, Springer, vol. 62(2), pages 297-338, February.
    • Handle: RePEc:spr:empeco:v:62:y:2022:i:2:d:10.1007_s00181-021-02023-5
    DOI: 10.1007/s00181-021-02023-5
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    More about this item

    Keywords

    Natural resources; Income inequality; Synthetic control method; Developed countries;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)

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