A new empirical regularity in world income distribution dynamics, 1960-2001
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.
Volume (Year): 6 (2004)
Issue (Month): 19 ()
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