Level of Development and Income Inequality: An Extension of Kuznets-Hypothesis to the World Economy
Kuznets' hypothesis, which relates income inequality in a country with its level of economic development, is extended to the world system, and it is hypothesized that intercountry (world) income inequality first increases with world economic growth, but starts declining after reaching a turning point. Empirical status of the extension is explored on the basis of reasonably good income data that are comparable across countries and over time. A well-recommended inequality index is utilized for the study, which includes 115 market economies and covers the period 1960-80. The estimates appear to support the proposed extension fairly well. Copyright 1989 by WWZ and Helbing & Lichtenhahn Verlag AG
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Volume (Year): 42 (1989)
Issue (Month): 1 ()
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