Explaining International and Intertemporal Variations in Income Inequality
This paper explores the propositions that, income inequality is relatively stable within countries; and that it varies significantly among countries. A new and expanded data set provides broad support for both propositions. Drawing on a political economy and capital market imperfection arguments to explain the intertemporal and international variation in inequality, the empirical analysis shows that the predicted variables associated with the first argument (a measure of civil liberties and the initial level of secondary schooling) and the second argument (a measure of financial depth and the initial distribution of land) are indeed important determinants of inequality.
|Date of creation:||Jan 1998|
|Date of revision:|
|Publication status:||Published in The Economic Journal, Volume 108, Issue 446, pages 26-43, January 1998|
|Contact details of provider:|| Web page: http://cema.cufe.edu.cn/|
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