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Income Inequality, Economic Freedom, and Economic Growth in Greece: A Multivariate Analysis

In: Advances in Empirical Economic Research

Author

Listed:
  • Antonis Tsitouras

    (University of Western Macedonia)

  • Harry Papapanagos

    (University of Macedonia)

Abstract

This empirical research applies the autoregressive distributed lag (ARDL) econometric technique to investigate the long- and short-run effects of economic growth and economic freedom on income inequality in Greece between 1980 and 2019. This study advances previous empirical studies by incorporating two auxiliary variables into the aforementioned nexus: population growth and tertiary educational attainment. Considering our findings, it is envisaged that Greek policymakers should consider economic freedom as an important long-term goal when contemplating policies aimed at reducing income inequality. In the short term, however, economic growth appears more effective than economic freedom in promoting income equality. Finally, the two demographic variables, population and educational attainment, emerged as critical determinants in promoting income equality.

Suggested Citation

  • Antonis Tsitouras & Harry Papapanagos, 2023. "Income Inequality, Economic Freedom, and Economic Growth in Greece: A Multivariate Analysis," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Empirical Economic Research, chapter 0, pages 485-503, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-22749-3_30
    DOI: 10.1007/978-3-031-22749-3_30
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    More about this item

    Keywords

    Income inequality; Economic freedom; Economic growth;
    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
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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