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The Effect of Regime on the Economic Growth and the Income Inequality

Year 2021, Volume: 18 Issue: Yönetim ve Organizasyon Özel Sayısı, 1164 - 1193, 10.07.2021
https://doi.org/10.26466/opus.927567

Abstract

An information that is not contained in the article should not be involved in abstract. While the global economy is growing, income inequality is increasing. Income inequality is an important element that negatively affects human life both economically and socially. In this study, the relationship between economic growth and inequality was compared in terms of management forms. Thus, it was desirable to give a different perspective to the literature on economic growth and income inequality. In the Econo-mist 2021, 167 countries created an index of democracy, scoring between 0 and 10 based on 60 indica-tors. In the study covering the period 2006 - 2020, countries; from worst to best, respectively; authoritarian regime, hybrid regime, flawed democracy and full democracy are divided into categories. For this purpose, a study was conducted in the special case of fully democratic North America and autocratic Sub-Saharan African countries. Empirical analysis using the Panel data model covers the period 2006-2020. The variables were chosen because they were dealt with by the link between income inequality (Gini, dependent) and economic growth (GDP, independent) and regime (RE, independent), respectively. Study results by; A positive correlation has been found between economic growth and income inequality for North American countries. In Sub-Saharan countries ruled by an authoritarian regime, this relationship was found to be very weak.

References

  • Acaravcı, A., Sinan, E. and Seyfettin, A. (2018). Relationships of income distribution, democracy, real income and trade openness: The empirical evidence from balkan states. International Journal of Economic and Administrative Studies Special Issue, (Prof. Dr. Harun Terzi Special Issue), 73-82.
  • Acemoğlu, D., Suresh, N., Pascual, R. and James, A. R. (2013). Democracy, Redistribution and Inequality. Access Date: 03 March 2021, https://www.nber.org/papers/w19746.pdf .
  • Ahmad, M. (2017). Economic freedom and income inequality: Does political regime matter?. Economies, MDPI, Open Access Journal, 5(2), 1-28.
  • Adinde, S. and Stephannie, C. (2017). The impact of income inequality on economic growth: A case study on Nigeria. (Thesis). King's College London, KCL · Department of International Development Emerging Economies and International Development, London, United Kingdom, doi: 10.13140/RG.2.2.33809.74084.
  • Armağan, G. (2018). Income inequality econominal. Access Date: 29 March 2021, https://econominal.org/inequality/
  • Artan, S. and Cemalettin, K. (2014). Relationship between foreign openness, democracy and income distribution in developed and developing. Countries Social Security Journal, 4(2), 69-88.
  • Baltagi, B.(2005). Econometric analysis of panel data. Third Edition. England: John Wiley & Sons Press.
  • Beşkaya, A. and Ömer, M. (2009). A time series analysis of the nexus between economic freedom and democracy and economic performance: The Turkish case. Zonguldak Karaelmas University Journal of Social Sciences, 5(10), 47-76.
  • Breitung, J. (2000). The local power of some unit root tests for panel data. Advances in Econometrics, 15, 161-177.
  • Brueckner, M. and Daniel, L. (2017). Inequality and economic growth: The role of initial income. The World Bank. Policy Research Working Paper Series, 8467.
  • Barro, R. J. (1994). Democracy and growth. NBER Working Paper, 4909, Access Date: 21 March 2021, http://www.nber.org/papers/w4909.pdf?new_window=1.
  • Barro, R. J. (1996). Democracy and growth. Access Date: 10 April 2021, http://www.nber.org/papers/w4909.pdf
  • Clarke, P., Claire, C., Fiona, S. and Anna, V. (2010). The choice between fixed and random effects models: some considerations for educational research. IZA DP,5287, 52-87.
  • Cural, M. (2009). Post-1980 development of income distribution in OECD Countries and interventions to reduce inequality. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 4(2), 73‐91.
  • Davies, J.B., Rodrigo, L. and Anthony F. S. (2017). Estimating the level and distribution of global wealth 2000–2014. Review of Income and Wealth, 63(4), 731-759.
  • Delbianco, F., Dabús, C. and Caraballo, M. Á. (2014). Income inequality and economic growth: New evidence from latin america. Cuadernos de Economía, 33(63), 381-398.
  • Dickey, D.A. and Wayne A. F.(1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74, 427– 431.
  • Din, R. A., Rana E. and Ali, K. (2017). Democracy, income inequality and economic growth nexus: The case of Pakistan. Pakistan Journal of Commerce and Social Sciences,11(1), 206-221.
  • Fisher, R. A. (1932). Statistical methods for research workers. Forth Edition. Edinburgh: Oliver and Boyd. Galor, O. and Omer, M. (2004). From physical to human capital accumulation: Inequality and the process of development. The Review of Economic Studies, 71(4), 1001-1026.
  • Galor, O. (2011). Inequality, Human capital formation and the process of development. National Bureau of Economic Research Working Paper, 17058.
  • Giray, G. (2011). Panel unit root tests of purchasing power parity hypothesis: Evidence from Turkey. International Research Journal of Finance and Economics, 61, 135-140.
  • Gradstein, M., Milanovic, B. and Ying, Y. (2001). Democracy and income inequality: An empirical analysis. Policy research. World Bank, Working Paper, 2561, Access Date: 22 March 2021, https://openknowledge.worldbank.org/handle/10986/19685 License: CC BY 3.0 IGO.
  • Greene, W.H. (2003). Econometric analysis (5. Edition). New Jersey: Prentice Hall.
  • Gujarati, D.N. (2004). Basic econometrics (4th Ed.). NewYork: The McGraw-Hill Companies.
  • Güzel, S. and Işın, Ç. (2018). The effects of economic growth and income inequality on poverty in Middle East and Sub-Saharan African Countries. Journal of Social Security, 8(2), 91-107.
  • Hadri, K. (2000).Testing for stationarity in heterogeneous panels. Econometrics Journal, 3, 148-161.
  • Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 46, 1251-1271.
  • Helliwell, J.F. (1994). Empirical linkages between democracy and economic growth. British Journal of Political Science, 24, 225-248.
  • Hsing, Y. (2005). Economic growth and income inequality: The case of the US. International Journal of Social Economics, 32(7), 639-647.
  • Hsiao, C. (2002). Analysis of panel data (2. Edition). New York: Cambridge University Press.
  • IMF (2021). IMF Data, Access Date : 16 March 2021, https://www.imf.org/external/index.htm.
  • INEQUALITY (2020). Income inequality. Access Date: 30 December 2020, https://inequality.org/facts/global.inequality/#global-income-inequality.
  • İsagiller, A. (2007). Income distribution and economic growth. İstanbul University. Journal of Social Sciences, 1, 83-94.
  • Kandek, B. and Veronika, K. (2017). Income inequality and economic growth, Bachelor thesis in economics. Jönköping University İnternational Business School, 1-35. Access Date: 28 January 2021, http://www.divaportal.org/smash/record.jsf?pid=diva2%3A1112925&dswid=-5851
  • Karlsson, S. (2014).The accuracy of the hausman test in panel data: A Monte Carlo Study. (Master thesis). Orebro University Orebro University School of Business, Access Date: 21 March 2021, http://oru.diva portal.org/smash/get/diva2:805823/FULLTEXT01.pdf.
  • Kalliovirta, L. and Tuomas, M. (2020). Income inequality regimes and economic growth. Access Date: 25 March 2021, http://www.ecineq.org/ecineq_paris19/papers_EcineqPSE/paper_32.pdf.
  • Keskin, A.(2017). Income distribution and economic growth: A complementary cross-country study to the Kuznets Curve. Afyon Kocatepe University Journal of Social Sciences, 19(2), 235-250.
  • Koçak, E. and Nisfet, U. (2018). Democracy, economic freedoms and economic growth: A study on the role of institutions. Sosyoekonomi, 26(36), 81-102.
  • Kutlar, A. (2017). Multivariate time series with step-by-step eviews. Kocaeli: Umuttepe Publication. Kuznets, S. (1955). Economic growth and income inequality. The American Economic Review, 45(1),2-28.
  • Levin, A., Chien-F.L. and Chia-Shang, J.C. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108 (1), 1-24.
  • Lipset, S. M.(1959). Some social requisites of democracy: Economic development and political legitimacy. American Political Science Review, 53, 69–105.
  • Lipps, O. and Ursina, K. (2016). Introduction to panel data analysis. Swiss Centre of Expertise in the Social Sciences (FORS) c/o University of Lausanne, Access Date: 21 March 2021, https://forscenter.ch/wp-content/uploads/2018/07/slides_2016_all.pdf.
  • McKay, A. (2002). Defining and measuring inequality. Inequality Briefing Paper No. 1 (1 of 3).
  • Majeed, M.T. (2016). Economic growth and income inequality nexus: An empirical analysis for Pakistan. MPRA Paper, 89705, 1-14.
  • Majumdar, S. and Partridge, M.D. (2009). Impact of economic growth on income inequality: A regional perspective. conference paper. Agricultural and Applied Economics Association (AAEA), 2009 Annual Meeting, July 26-28, Milwaukee, Wisconsin.
  • Nemati, M. and Ghasem, R.(2015). Economic growth and income inequality in developing countries. International Journal of Life Sciences, 9(6), 79 - 82.
  • Nikoloski, Z. (2015). Democracy and income inequality: Revisiting the long- and short-term relationship. Review of Economics and Institutions, 6(2), 2-24.
  • OECD (2021). Organization for economic cooperation and development. Access Date: 02 April 2021, https://www.oecd-ilibrary.org/statistics.
  • Torres, O. R. (2007). Panel data analysis fixed and random effects using stata. Access Date: 12 April 2021, https://www.princeton.edu/~otorres/Panel101.pdf.
  • Park, H.M. (2010). Practical guides to panel data analysis. Access Date: 03 April 2021, http://www.iuj.ac.jp/faculty/kucc625/writing/panel_guidelines.pdf.
  • Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57,1361-1401.
  • Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967-1012.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics, 435, 1-50.
  • Pesaran, M. H. and Yongcheol, S. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53-74.
  • Peseran, M. H. (2001). Bounds testing approaches to the analysis of level relationship. Journal of Applied Econometrics, 16(3), 289-326.
  • Piketty, T. (2014). Capital in the twenty-first century. Cambridge, MA: Harvard University Press.
  • Rabiul, I. (2017). Income inequality and economic growth nexus in Japan: A multivariate analysis. The Ritsumeikan Economic Review, 65(4), 37-54.
  • Reisinezhad, A. (2018). Economic growth and income inequality in resource countries: Theory and evidence. PSE Working Papers,05,1-51.
  • Sarıkovanlık, V., Ayben, K., Murat, A., Hasan, H. Y. and Lokman, K. (2018). Econometrics applications in financial science. Ankara: Seçkin Publishing.
  • Scheve, K. and David, S. (2017). Wealth inequality and democracy. Annual Review of Political Science, 20, 451-468.
  • Shin, I. (2012). Income inequality and economic growth. Economic Modelling, 29(5), 2049-2057.
  • Shorrocks, A., James, D. and Rodrigo, L. (2018). Global wealth 2018: The year in review. Global Wealth Report 2018, 4-12.
  • Statistics How To (2020). Hausman test for endogeneity (Hausman specification test). Access Date: 30 December 2020, https://www.statisticshowto.datasciencecentral.com/hausman-test/.
  • Stiglitz, J. E. (2012). The price of inequality: How today’s divided society endangers our future. New York: Norton.
  • Stone, C., Danilo, T., Arloc, S. and Jennifer, B. (2018). A guide to statistics on historical trends in income inequality. The center on budget and policy priorities (CBPP), Report, 1-23. Access Date: 17 March 2021, https://wp.lasalle.edu/cel/wpcontent/uploads/sites/6/2015/05/A-Guide-to-Statistics-on-Historical-Trends.pdf
  • Teo, T. (2021). Inequality under authoritarian rule. Government and Opposition, 56(2), 201-225. doi:10.1017/gov.2019.19.
  • The Economist (2021). The economist intelligence unit's democracy index.Access Date: 30 March 2021, https://infographics.economist.com/2020/DemocracyIndex/
  • UNDP (2020). Sustainable development goals. Access Date: 23 December 2020, https://www.undp.org/content/undp/en/home/sustainable-development-goals.html.
  • Voitchovsky, S. (2005). Does the profile of income inequality matter for economic growth? Distinguishing between the effects of inequality in different parts of the income distribution. Journal of Economic Growth, 10, 273–296.
  • Wahiba, N. F. and Malek El W. (2014). The relationship between economic growth and income inequality. International Journal of Economics and Financial Issues, 4(1), 135-143.
  • Peterson, E.W. F. (2017). Is economic inequality really a problem? A review of the arguments. Social Sciences, 6(4),1-25.
  • World Bank (2021). World Bank open data. Access Date: 23 March 2021, https://data.worldbank.org/.
  • World Inequality Database (2020). What is the aim of the world inequality report 2018? Access Date: 28 December 2020, https://wir2018.wid.world/executive-summary.html.
  • Yay, G. G. (2002). Economic development and democracy testing the relationship. Faculty of Economics Journal, 52(1), 27-54.

Yönetim Biçiminin Ekonomik Büyüme ve Gelir Eşitsizliği Üzerindeki Etkisi

Year 2021, Volume: 18 Issue: Yönetim ve Organizasyon Özel Sayısı, 1164 - 1193, 10.07.2021
https://doi.org/10.26466/opus.927567

Abstract

Küresel ekonomi büyüdüğü halde gelir eşitsizliği artmaktadır. Gelir eşitsizliği hem ekonomik hem de sosyal anlamda insan yaşamını olumsuz etkileyen önemli bir unsurdur. Bu çalışmada ekonomik büyüme ve eşitsizlik arasındaki ilişki yönetim biçimleri bakımından karşılaştırılmıştır. Böylece ekonomik büyüme ve gelir eşitsizliği konusunda literatüre farklı bir bakış açısı kazandırılmak istenmiştir. The Economist 2021’de 167 ülke, 60 göstergeye dayanarak 0 ila 10 arasında puanlama yaparak demokrasi endeksi oluşturmuştur. 2006-2020 Dönemini kapsayan çalışmada, ülkeler en kötüden en iyiye sırasıyla; otoriter rejim, hibrit rejim, kusurlu demokrasi ve tam demokrasi şeklinde kategorilere ayrılmıştır. Bu amaçla tam demokratik Kuzey Amerika ile otokratik Sahra-altı Afrika ülkeleri özelinde bir çalışma yapılmıştır. Panel veri modeli kullanılarak yapılan ampirik analiz 2006-2020 dönemini kapsamaktadır. Değişkenler sırasıyla gelir eşitsizliği (GINI, bağımlı), ekonomik büyüme (GSYİH, bağımsız) ve Rejim (RE, bağımsız) olarak belirlenmiştir. Çalışma sonucunda elde edilen bulgulara göre; Kuzey Amerika ülkeleri için ekonomik büyüme ile gelir eşitsizliği arasında pozitif bir ilişki tespit edilmiştir. Otoriter rejimle yönetilen Sahra-Altı ülkelerde ise bu ilişkinin çok zayıf olduğu görülmüştür.

References

  • Acaravcı, A., Sinan, E. and Seyfettin, A. (2018). Relationships of income distribution, democracy, real income and trade openness: The empirical evidence from balkan states. International Journal of Economic and Administrative Studies Special Issue, (Prof. Dr. Harun Terzi Special Issue), 73-82.
  • Acemoğlu, D., Suresh, N., Pascual, R. and James, A. R. (2013). Democracy, Redistribution and Inequality. Access Date: 03 March 2021, https://www.nber.org/papers/w19746.pdf .
  • Ahmad, M. (2017). Economic freedom and income inequality: Does political regime matter?. Economies, MDPI, Open Access Journal, 5(2), 1-28.
  • Adinde, S. and Stephannie, C. (2017). The impact of income inequality on economic growth: A case study on Nigeria. (Thesis). King's College London, KCL · Department of International Development Emerging Economies and International Development, London, United Kingdom, doi: 10.13140/RG.2.2.33809.74084.
  • Armağan, G. (2018). Income inequality econominal. Access Date: 29 March 2021, https://econominal.org/inequality/
  • Artan, S. and Cemalettin, K. (2014). Relationship between foreign openness, democracy and income distribution in developed and developing. Countries Social Security Journal, 4(2), 69-88.
  • Baltagi, B.(2005). Econometric analysis of panel data. Third Edition. England: John Wiley & Sons Press.
  • Beşkaya, A. and Ömer, M. (2009). A time series analysis of the nexus between economic freedom and democracy and economic performance: The Turkish case. Zonguldak Karaelmas University Journal of Social Sciences, 5(10), 47-76.
  • Breitung, J. (2000). The local power of some unit root tests for panel data. Advances in Econometrics, 15, 161-177.
  • Brueckner, M. and Daniel, L. (2017). Inequality and economic growth: The role of initial income. The World Bank. Policy Research Working Paper Series, 8467.
  • Barro, R. J. (1994). Democracy and growth. NBER Working Paper, 4909, Access Date: 21 March 2021, http://www.nber.org/papers/w4909.pdf?new_window=1.
  • Barro, R. J. (1996). Democracy and growth. Access Date: 10 April 2021, http://www.nber.org/papers/w4909.pdf
  • Clarke, P., Claire, C., Fiona, S. and Anna, V. (2010). The choice between fixed and random effects models: some considerations for educational research. IZA DP,5287, 52-87.
  • Cural, M. (2009). Post-1980 development of income distribution in OECD Countries and interventions to reduce inequality. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 4(2), 73‐91.
  • Davies, J.B., Rodrigo, L. and Anthony F. S. (2017). Estimating the level and distribution of global wealth 2000–2014. Review of Income and Wealth, 63(4), 731-759.
  • Delbianco, F., Dabús, C. and Caraballo, M. Á. (2014). Income inequality and economic growth: New evidence from latin america. Cuadernos de Economía, 33(63), 381-398.
  • Dickey, D.A. and Wayne A. F.(1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74, 427– 431.
  • Din, R. A., Rana E. and Ali, K. (2017). Democracy, income inequality and economic growth nexus: The case of Pakistan. Pakistan Journal of Commerce and Social Sciences,11(1), 206-221.
  • Fisher, R. A. (1932). Statistical methods for research workers. Forth Edition. Edinburgh: Oliver and Boyd. Galor, O. and Omer, M. (2004). From physical to human capital accumulation: Inequality and the process of development. The Review of Economic Studies, 71(4), 1001-1026.
  • Galor, O. (2011). Inequality, Human capital formation and the process of development. National Bureau of Economic Research Working Paper, 17058.
  • Giray, G. (2011). Panel unit root tests of purchasing power parity hypothesis: Evidence from Turkey. International Research Journal of Finance and Economics, 61, 135-140.
  • Gradstein, M., Milanovic, B. and Ying, Y. (2001). Democracy and income inequality: An empirical analysis. Policy research. World Bank, Working Paper, 2561, Access Date: 22 March 2021, https://openknowledge.worldbank.org/handle/10986/19685 License: CC BY 3.0 IGO.
  • Greene, W.H. (2003). Econometric analysis (5. Edition). New Jersey: Prentice Hall.
  • Gujarati, D.N. (2004). Basic econometrics (4th Ed.). NewYork: The McGraw-Hill Companies.
  • Güzel, S. and Işın, Ç. (2018). The effects of economic growth and income inequality on poverty in Middle East and Sub-Saharan African Countries. Journal of Social Security, 8(2), 91-107.
  • Hadri, K. (2000).Testing for stationarity in heterogeneous panels. Econometrics Journal, 3, 148-161.
  • Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 46, 1251-1271.
  • Helliwell, J.F. (1994). Empirical linkages between democracy and economic growth. British Journal of Political Science, 24, 225-248.
  • Hsing, Y. (2005). Economic growth and income inequality: The case of the US. International Journal of Social Economics, 32(7), 639-647.
  • Hsiao, C. (2002). Analysis of panel data (2. Edition). New York: Cambridge University Press.
  • IMF (2021). IMF Data, Access Date : 16 March 2021, https://www.imf.org/external/index.htm.
  • INEQUALITY (2020). Income inequality. Access Date: 30 December 2020, https://inequality.org/facts/global.inequality/#global-income-inequality.
  • İsagiller, A. (2007). Income distribution and economic growth. İstanbul University. Journal of Social Sciences, 1, 83-94.
  • Kandek, B. and Veronika, K. (2017). Income inequality and economic growth, Bachelor thesis in economics. Jönköping University İnternational Business School, 1-35. Access Date: 28 January 2021, http://www.divaportal.org/smash/record.jsf?pid=diva2%3A1112925&dswid=-5851
  • Karlsson, S. (2014).The accuracy of the hausman test in panel data: A Monte Carlo Study. (Master thesis). Orebro University Orebro University School of Business, Access Date: 21 March 2021, http://oru.diva portal.org/smash/get/diva2:805823/FULLTEXT01.pdf.
  • Kalliovirta, L. and Tuomas, M. (2020). Income inequality regimes and economic growth. Access Date: 25 March 2021, http://www.ecineq.org/ecineq_paris19/papers_EcineqPSE/paper_32.pdf.
  • Keskin, A.(2017). Income distribution and economic growth: A complementary cross-country study to the Kuznets Curve. Afyon Kocatepe University Journal of Social Sciences, 19(2), 235-250.
  • Koçak, E. and Nisfet, U. (2018). Democracy, economic freedoms and economic growth: A study on the role of institutions. Sosyoekonomi, 26(36), 81-102.
  • Kutlar, A. (2017). Multivariate time series with step-by-step eviews. Kocaeli: Umuttepe Publication. Kuznets, S. (1955). Economic growth and income inequality. The American Economic Review, 45(1),2-28.
  • Levin, A., Chien-F.L. and Chia-Shang, J.C. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108 (1), 1-24.
  • Lipset, S. M.(1959). Some social requisites of democracy: Economic development and political legitimacy. American Political Science Review, 53, 69–105.
  • Lipps, O. and Ursina, K. (2016). Introduction to panel data analysis. Swiss Centre of Expertise in the Social Sciences (FORS) c/o University of Lausanne, Access Date: 21 March 2021, https://forscenter.ch/wp-content/uploads/2018/07/slides_2016_all.pdf.
  • McKay, A. (2002). Defining and measuring inequality. Inequality Briefing Paper No. 1 (1 of 3).
  • Majeed, M.T. (2016). Economic growth and income inequality nexus: An empirical analysis for Pakistan. MPRA Paper, 89705, 1-14.
  • Majumdar, S. and Partridge, M.D. (2009). Impact of economic growth on income inequality: A regional perspective. conference paper. Agricultural and Applied Economics Association (AAEA), 2009 Annual Meeting, July 26-28, Milwaukee, Wisconsin.
  • Nemati, M. and Ghasem, R.(2015). Economic growth and income inequality in developing countries. International Journal of Life Sciences, 9(6), 79 - 82.
  • Nikoloski, Z. (2015). Democracy and income inequality: Revisiting the long- and short-term relationship. Review of Economics and Institutions, 6(2), 2-24.
  • OECD (2021). Organization for economic cooperation and development. Access Date: 02 April 2021, https://www.oecd-ilibrary.org/statistics.
  • Torres, O. R. (2007). Panel data analysis fixed and random effects using stata. Access Date: 12 April 2021, https://www.princeton.edu/~otorres/Panel101.pdf.
  • Park, H.M. (2010). Practical guides to panel data analysis. Access Date: 03 April 2021, http://www.iuj.ac.jp/faculty/kucc625/writing/panel_guidelines.pdf.
  • Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57,1361-1401.
  • Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967-1012.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics, 435, 1-50.
  • Pesaran, M. H. and Yongcheol, S. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53-74.
  • Peseran, M. H. (2001). Bounds testing approaches to the analysis of level relationship. Journal of Applied Econometrics, 16(3), 289-326.
  • Piketty, T. (2014). Capital in the twenty-first century. Cambridge, MA: Harvard University Press.
  • Rabiul, I. (2017). Income inequality and economic growth nexus in Japan: A multivariate analysis. The Ritsumeikan Economic Review, 65(4), 37-54.
  • Reisinezhad, A. (2018). Economic growth and income inequality in resource countries: Theory and evidence. PSE Working Papers,05,1-51.
  • Sarıkovanlık, V., Ayben, K., Murat, A., Hasan, H. Y. and Lokman, K. (2018). Econometrics applications in financial science. Ankara: Seçkin Publishing.
  • Scheve, K. and David, S. (2017). Wealth inequality and democracy. Annual Review of Political Science, 20, 451-468.
  • Shin, I. (2012). Income inequality and economic growth. Economic Modelling, 29(5), 2049-2057.
  • Shorrocks, A., James, D. and Rodrigo, L. (2018). Global wealth 2018: The year in review. Global Wealth Report 2018, 4-12.
  • Statistics How To (2020). Hausman test for endogeneity (Hausman specification test). Access Date: 30 December 2020, https://www.statisticshowto.datasciencecentral.com/hausman-test/.
  • Stiglitz, J. E. (2012). The price of inequality: How today’s divided society endangers our future. New York: Norton.
  • Stone, C., Danilo, T., Arloc, S. and Jennifer, B. (2018). A guide to statistics on historical trends in income inequality. The center on budget and policy priorities (CBPP), Report, 1-23. Access Date: 17 March 2021, https://wp.lasalle.edu/cel/wpcontent/uploads/sites/6/2015/05/A-Guide-to-Statistics-on-Historical-Trends.pdf
  • Teo, T. (2021). Inequality under authoritarian rule. Government and Opposition, 56(2), 201-225. doi:10.1017/gov.2019.19.
  • The Economist (2021). The economist intelligence unit's democracy index.Access Date: 30 March 2021, https://infographics.economist.com/2020/DemocracyIndex/
  • UNDP (2020). Sustainable development goals. Access Date: 23 December 2020, https://www.undp.org/content/undp/en/home/sustainable-development-goals.html.
  • Voitchovsky, S. (2005). Does the profile of income inequality matter for economic growth? Distinguishing between the effects of inequality in different parts of the income distribution. Journal of Economic Growth, 10, 273–296.
  • Wahiba, N. F. and Malek El W. (2014). The relationship between economic growth and income inequality. International Journal of Economics and Financial Issues, 4(1), 135-143.
  • Peterson, E.W. F. (2017). Is economic inequality really a problem? A review of the arguments. Social Sciences, 6(4),1-25.
  • World Bank (2021). World Bank open data. Access Date: 23 March 2021, https://data.worldbank.org/.
  • World Inequality Database (2020). What is the aim of the world inequality report 2018? Access Date: 28 December 2020, https://wir2018.wid.world/executive-summary.html.
  • Yay, G. G. (2002). Economic development and democracy testing the relationship. Faculty of Economics Journal, 52(1), 27-54.
There are 74 citations in total.

Details

Primary Language English
Subjects Operation
Journal Section Articles
Authors

Rıdvan Karacan 0000-0002-4148-0069

Mehmet Emin Yardımcı 0000-0002-2896-8342

Aykut İşleyen 0000-0002-6252-4489

Publication Date July 10, 2021
Acceptance Date June 16, 2021
Published in Issue Year 2021 Volume: 18 Issue: Yönetim ve Organizasyon Özel Sayısı

Cite

APA Karacan, R., Yardımcı, M. E., & İşleyen, A. (2021). The Effect of Regime on the Economic Growth and the Income Inequality. OPUS International Journal of Society Researches, 18(Yönetim ve Organizasyon Özel Sayısı), 1164-1193. https://doi.org/10.26466/opus.927567