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Income Inequality Around The World

Author

Listed:
  • Gulzar Tahirova

    (Central Bank of the Republic of Azerbaijan, Baku)

  • Ramiz Rahmanov

    (Central Bank of the Republic of Azerbaijan, Baku)

  • Asif Qasimov

    (Central Bank of the Republic of Azerbaijan, Baku)

Abstract

This paper aims to identify the significant determinants of income inequality in developed and developing countries. The empirical analysis of the panel of 147 countries over the period from 1980 to 2010 shows that for developed countries, the significant determinant of income inequality is public spending on education, and for developing countries, the significant determinants are public spending on education, affordability of financial resources, and infrastructural development. Furthermore, no significant evidence supporting the existence of Kuznets’ curve is found.

Suggested Citation

  • Gulzar Tahirova & Ramiz Rahmanov & Asif Qasimov, 2016. "Income Inequality Around The World," Business & Management Compass, University of Economics Varna, issue 2, pages 127-139.
    • Handle: RePEc:vrn:journl:y:2016:i:2:p:127-139
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    More about this item

    Keywords

    Inequality; education; income; finance; institutions; infrastructure;
    All these keywords.

    JEL classification:

    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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