A Refinement of the Relationship Between Central Bank Independence, Inflation, and Income Inequality in Developing Countries

Fadi Fawaz () and Masha Rahnamamoghadam ()
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Fadi Fawaz: Tennessee State University, Nashville, Tennessee, USA
Masha Rahnamamoghadam: Texas Tech University, Lubbock, Texas, USA

Journal of Central Banking Theory and Practice, 2024, vol. 13, issue 1, 117-131

Abstract: This paper analyzes the impact on income inequality of a set of variables usually considered in the growth literature as potential growth determinants. There is evidence to suggest that unemployment and inflation are positively associated with income inequality; except for countries with central bank independence where a negative association exists between inflation and income inequality. The empirical evidence shows that income inequality increases when unemployment increases.

Keywords: Central Bank Independence; Income Inequality; Developing Countries; Fixed Effects. (search for similar items in EconPapers)
JEL-codes: C13 C33 D31 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:13:y:2024:i:1:p:117-131

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