Volume 24, Issue 4 (Winter 2020)
JPBUD 2020, 24(4): 75-96 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Shahabadi A, Kheshtmal Nasrani M, Moradi A. (2020). The Effect of Knowledge Components on the Inequality of Global Wealth Distribution. JPBUD. 24(4), 75-96. doi:10.29252/jpbud.24.4.75
URL: http://jpbud.ir/article-1-1910-en.html
URL: http://jpbud.ir/article-1-1910-en.html
1- Department of Economics, Faculty of Social Science and Economics, Alzahra University, Tehran, Iran. , a.shahabadi@alzahra.ac.ir
2- M.A Student in Business Management, Islamic Azad University, Branch Electronic, Tehran, Iran.
3- M.A in Economics, Islamic Azad University, Branch Arak, Iran.
2- M.A Student in Business Management, Islamic Azad University, Branch Electronic, Tehran, Iran.
3- M.A in Economics, Islamic Azad University, Branch Arak, Iran.
Abstract: (5505 Views)
Inequality in global wealth distribution has led to a growing gap between developing and developed countries with regards to income levels, consumption rates, and living standards. In view of that, the difference between these two groups of countries in terms of levels of knowledge and technology infrastructure, human capital, and innovation-based production has been cited as the main reason for inequality in the distribution of global wealth. The present study examines the effect of knowledge components on the inequality of global wealth distribution in the selected leading countries in science, implementing the approach of panel data and the use of generalized moment method for the period 2010-2017. The estimated results demonstrate that the effect of components of economic incentives, institutional regimes, and information and communication technology infrastructure on the inequality of global wealth distribution for the selected countries is negative and significant. Nonetheless, the effect of components of the innovation system, education, and development of human resources on the inequality of global wealth distribution is positive and significant. In addition, the effect of control variables, such as main globalization index and economic globalization, on the inequality of global wealth distribution for the selected countries is positive and significant; Also, the effect of social globalization and political globalization on the inequality of global wealth distribution is not significant.
Keywords: Wealth Inequality, Knowledge Components, Economic Globalization, Social Globalization, Political Globalization.
Type of Study: Applicable |
Subject:
Macroeconomics
Received: Jul 07 2020 | Accepted: Sep 26 2020 | ePublished: Nov 08 2020
Received: Jul 07 2020 | Accepted: Sep 26 2020 | ePublished: Nov 08 2020
References
1. Aghion, P., Akcigit, U., Bergeaud, A., Blundell, R., & Hémous, D. (2019). Innovation and Top Income Inequality. The Review of Economic Studies, 86(1), 1-45. [DOI:10.1093/restud/rdy027]
2. Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277-297. [DOI:10.2307/2297968]
3. Asongu, S. A., & Odhiambo, N. M. (2019). How Enhancing Information and Communication Technology Has Affected Inequality in Africa for Sustainable Development: An Empirical Investigation. Sustainable Development, 27(4), 647-656. [DOI:10.1002/sd.1929]
4. Atif, S. M., Srivastav, M., Sauytbekova, M., & Arachchige, U. K. (2012). Globalization and Income Inequality: A Panel Data Analysis of 68 Countries. ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz- Informationszentrum Wirtschaft, Kiel und Hamburg.
5. Cowell, F. A., & Flachaire, E. (2007). Income Distribution and Inequality Measurement: The Problem of Extreme Values. Journal of Econometrics, 141(2), 1044-1072. [DOI:10.1016/j.jeconom.2007.01.001]
6. De la Fuente, A., & Ciccone, A. (2003). Human Capital in a Global and Knowledge-Based Economy (Vol. 562): Office for Official Publications of the European Communities.
7. Ferrara, A. R., & Nisticò, R. (2019). Does Institutional Quality Matter for Multidimensional Well-Being Inequalities? Insights from Italy. Social Indicators Research, 145(3), 1063-1105. [DOI:10.1007/s11205-019-02123-x]
8. Hayashi, F. (2000). Econometrics. Princeton University Press.
9. Houngbonon, G. V. & Liang, J. (2017). Broadband Internet and Income Inequality. HAL Id: hal-01653815, https://hal.archives-ouvertes.fr/hal-01653815.
10. Josifidis, K., Supić, N., & Beker-Pucar, E. (2017). Institutional Quality and Income Inequality in the Advanced Countries. Panoeconomicus, 64(2), 169-188 [DOI:10.2298/PAN1702169J]
11. Kharlamova, G., Stavytskyy, A., & Zarotiadis, G. (2018). The Impact of Technological Changes on Income Inequality: The EU States Case Study. Journal of International Studies, 11(2)-76-94. [DOI:10.14254/2071-8330.2018/11-2/6]
12. Kušar, S. (2011). The Institutional Approach in Economic Geography: An Applicative View. Croatian Geographical Bulletin, 73(1), 39-49. [DOI:10.21861/HGG.2011.73.01.03]
13. Lusardi, A., Michaud, P.-C., & Mitchell, O. S. (2017). Optimal Financial Knowledge and Wealth Inequality. Journal of Political Economy, 125(2), 431-477. [DOI:10.1086/690950]
14. Mansfield, E. (1991). Academic Research and Industrial Innovation. Research Policy, 20(1), 1-12 [DOI:10.1016/0048-7333(91)90080-A]
15. Meschi, E., & Vivarelli, M. (2009). Trade and Income Inequality in Developing Countries. World Development, 37(2), 287-302. [DOI:10.1016/j.worlddev.2008.06.002]
16. Ningsih, C., & Choi, Y.-J. (2018). An Effect of Internet Penetration on Income Inequality in Southeast Asian Countries. The 22nd Biennial Conference of the International Telecommunications Society: "Beyond the Boundaries: Challenges for Business, Policy and Society", June 24th - 27th, 2018, Seoul, Korea.
17. North, D. (1990). Institutions, Institutional Change and Economic Performance: Cambridge University Press. [DOI:10.1017/CBO9780511808678]
18. Panichsombat, R. (2016). Impact of Internet Penetration on Income Inequality in Developing Asia: An Econometric Analysis. ASR: CMU Journal of Social Sciences and Humanities, 3(2), 151-167. [DOI:10.12982/CMUJASR.2016.0009]
19. Park, S. O. (2001). Regional Innovation Strategies in the Knowledge-Based Economy. GeoJournal, 53(1), 29-38. [DOI:10.1023/A:1015814611617]
20. Pohjola, M. (2001). Information Technology, Productivity, and Economic Growth: International Evidence and Implications for Economic Development: Oxford University Press. [DOI:10.1093/acprof:oso/9780199243983.001.0001]
21. Rahim, H. L., Abidin, Z. Z., Ping, S. D. S., Alias, M. K., & Muhamad, A. I. (2014). Globalization and Its Effect on World Poverty and Inequality. Global Journal of Management and Business, 1(2), 8-13.
22. Richmond, K., & Triplett, R. E. (2018). ICT and Income Inequality: A Cross-national Perspective. International Review of Applied Economics, 32(2), 195-214. [DOI:10.1080/02692171.2017.1338677]
23. Shahabadi, A., Nemati, M., & Hosseinidoust, S. E. (2017). The Effect of Knowledge Economy Factors on Income Inequality in the Selected Islamic Countries. Journal of the Knowledge Economy, 8(4), 1174-1188. [DOI:10.1007/s13132-016-0431-3]
24. Shahabadi, A., Nemati, M., & Hosseinidoust, S. E. (2018). The Effect of Education on Income Inequality in Selected Islamic Countries. International Journal of Asia-Pacific Studies, 14(2)-61-78. [DOI:10.21315/ijaps2018.14.2.3]
25. Trott, P. (2007). The Management of Technology and Innovation: A Strategic Approach. Edited by Margaret White and Garry Bruton. R&D Management, 37(4), 379-380. [DOI:10.1111/j.1467-9310.2007.00483.x]
26. Wooldridge, J. M. (2016). Introductory Econometrics: A Modern Approach: Nelson Education.
27. Zack, M. H. (1999). Developing a Knowledge Strategy. California Management Review, 41(3), 125-145. [DOI:10.2307/41166000]
| Rights and permissions | |
.jpg) |
This work is licensed under a Creative Commons Attribution 4.0 International License. |
