The Effect of Knowledge Economy Factors on Income Inequality in the Selected Islamic Countries

Abolfazl Shahabadi (), Morteza Nemati () and Seyed Ehsan Hosseinidoust ()
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Abolfazl Shahabadi: Bu Ali Sian University
Morteza Nemati: Bu Ali Sian University
Seyed Ehsan Hosseinidoust: Bu Ali Sian University

Journal of the Knowledge Economy, 2017, vol. 8, issue 4, No 4, 1174-1188

Abstract: Abstract The importance of knowledge in the economy is so notable that many economists consider its role even stronger than the traditional production factors such as labor forces and capital. Term of knowledge-based economic represents the significance of the mentioned issue. Hence, identification of the components of knowledge economy and its influence on macroeconomic variables can be a step forward to highlight its role in the economy.The present study investigates the effect of the components of the knowledge-based economy on income inequality during 1995–2012, in a selection of the Islamic countries. Therefore, using panel data model, the effect of variables such as education, innovation, information and communication technology (ICT), and institutional regimes of income inequality was studied. There was a significant and positive effect for the components of knowledge, index of institutional economic regimes; positive but insignificant effect for innovation and creativity index; negative and significant effect for the index of education; and negative and insignificant effect for ICT on income inequality in the selected Islamic countries.

Keywords: Knowledge economy; Education; Innovation; ICT; Institutional regimes; The Islamic countries (search for similar items in EconPapers)
JEL-codes: E25 I20 O15 O31 O53 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (14)

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DOI: 10.1007/s13132-016-0431-3

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