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Can Income Inequality Reduction Be Used As An Instrument For Poverty Reduction? Dynamic Evidence From Nigeria

Author

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  • EVELYN OSARETIN OGBEIDE
  • RICHARDSON KOJO EDEME
  • INNOCENT A. IFELUNINI

Abstract

The poverty level in the world is of serious concern but of a greater concern is the rising level of inequality along with poverty. This is major developmental subject of concern in developing countries. This study investigates the dynamic relationship between poverty and inequality in Nigeria to ascertain if inequality is a determinant of poverty in a semi-macro panel datasets employing the Generalized Method of Moments (GMM) method of estimation. The study used panel data for 1992-2010 in a four-year round panel framework using variables such as household size, unemployment, adult literacy rate and unimproved source of drinking water. The result of the study revealed that both present level and past levels of inequality has a significant impact on poverty at 5 per cent level of significance. It further showed that past levels of poverty positively impacted on the present level of poverty. In addition to unemployment and level of education captured by literacy rate are important factors to be considered in poverty reduction.

Suggested Citation

  • Evelyn Osaretin Ogbeide & Richardson Kojo Edeme & Innocent A. Ifelunini, 2016. "Can Income Inequality Reduction Be Used As An Instrument For Poverty Reduction? Dynamic Evidence From Nigeria," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 8(2 (July)), pages 307-319.
    • Handle: RePEc:shc:jaresh:v:8:y:2016:i:2:p:307-319
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    Cited by:

    1. Evelyn Nwamaka Ogbeide-Osaretin & Victoria Nkiruka Ishiwu, 2021. "Macroeconomic Shocks and Aggregate Welfare in Sub-Saharan African Countries," Business & Management Compass, University of Economics Varna, issue 4, pages 380-396.

    More about this item

    Keywords

    Poverty; Inequality; Dynamic Panel.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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