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Level of Development and Income Inequality: An Extension of Kuznets-Hypothesis to the World Economy

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  • Ram, Rati

Abstract

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

Suggested Citation

  • Ram, Rati, 1989. "Level of Development and Income Inequality: An Extension of Kuznets-Hypothesis to the World Economy," Kyklos, Wiley Blackwell, vol. 42(1), pages 73-88.
  • Handle: RePEc:bla:kyklos:v:42:y:1989:i:1:p:73-88
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    Cited by:

    1. Tobias F. Rötheli, 2011. "The Kuznets curve: determinants of its shape and the role of finance," Studies in Economics and Finance, Emerald Group Publishing, vol. 28(2), pages 149-159, June.
    2. Alvargonzalez, M. & Lopez, A. & Perez, R., 2004. "Growth-Inequality Relationship. An Analytical Approach and Some Evidence for Latin America," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(2).
    3. Paweenawat, Sasiwimon Warunsiri & McNown, Robert, 2014. "The determinants of income inequality in Thailand: A synthetic cohort analysis," Journal of Asian Economics, Elsevier, vol. 31, pages 10-21.
    4. Juan Vicente-Perdiz & Luis M. Borge, 2000. "Desarrollo y desigualdad con progreso técnico," Investigaciones Economicas, Fundación SEPI, vol. 24(3), pages 709-726, September.
    5. Krishna Mazumdar, 2000. "Inter-Country Inequiality in Social Indicators of Development," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 49(3), pages 335-345, March.
    6. Perera, Liyanage Devangi H. & Lee, Grace H.Y., 2013. "Have economic growth and institutional quality contributed to poverty and inequality reduction in Asia?," MPRA Paper 52763, University Library of Munich, Germany.
    7. Islam, S.M.A, 2009. "Inequality and economic growth in Bangladesh–a diversified evidence on Kuznets pattern `U` hypothesis," Journal of the Bangladesh Agricultural University, Bangladesh Agricultural University Research System (BAURES), vol. 7.

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