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A new empirical regularity in world income distribution dynamics, 1960-2001

Author

Listed:
  • Roki Iwahashi

    (Graduate School of Economics, Kyoto University)

  • Tomohiro Machikita

    (Institute of Economic Research, Hitotsubashi University)

Abstract

The aim of this paper is to present a new empirical regularity in world income distribution using cross-country panel data, 1960-2001. It shows the fact that the real cross-country GDP per capita is significantly approximated to a geometric sequence, and that its common ratio is decreasing consistently during the period. It seems rather natural to believe that inequality is not necessarily permanent in our economy.

Suggested Citation

  • Roki Iwahashi & Tomohiro Machikita, 2004. "A new empirical regularity in world income distribution dynamics, 1960-2001," Economics Bulletin, AccessEcon, vol. 6(19), pages 1-15.
    • Handle: RePEc:ebl:ecbull:eb-04f00002
    as

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    File URL: http://www.accessecon.com/pubs/EB/2004/Volume6/EB-04F00002A.pdf
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    References listed on IDEAS

    as
    1. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-1036, July.
    2. Quah, Danny T, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," Economic Journal, Royal Economic Society, vol. 106(437), pages 1045-1055, July.
    3. Charles I. Jones, 1997. "On the Evolution of the World Income Distribution," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 19-36, Summer.
    4. Quah, Danny, 1993. "Empirical cross-section dynamics in economic growth," European Economic Review, Elsevier, vol. 37(2-3), pages 426-434, April.
    5. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-1085, December.
    6. Danny Quah, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEP Discussion Papers dp0280, Centre for Economic Performance, LSE.
    7. Corrado Di Guilmi & Mauro Gallegati & Edoardo Gaffeo, 2003. "Power Law Scaling in the World Income Distribution," Economics Bulletin, AccessEcon, vol. 15(6), pages 1-7.
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    2. Jia Shao & Plamen Ch. Ivanov & Boris Podobnik & H. Eugene Stanley, 2007. "Quantitative relations between corruption and economic factors," Papers 0705.0161, arXiv.org.

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    More about this item

    JEL classification:

    • F0 - International Economics - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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