Oil Abundance and Income Inequality
Dong-Hyeon Kim () and
Shu-Chin Lin ()
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Dong-Hyeon Kim: Korea University
Shu-Chin Lin: SungKyunKwan University
Environmental & Resource Economics, 2018, vol. 71, issue 4, 825-848
Abstract The paper empirically investigates the impact of natural resource abundance, in particular oil, on income disparities. It employs common correlated effects pooled mean group methodology for estimation to account for the cross-country heterogeneity and cross-section dependence in the oil-inequality nexus. In a sample of developed and developing countries, we find that oil abundance as well as oil dependence reduce income inequality. This inequality-reducing effect is highly likely to operate from better education attainments and improved health status due to oil booms.
Keywords: Oil; Income inequality; Heterogeneous panels (search for similar items in EconPapers)
JEL-codes: O13 O15 Q33 (search for similar items in EconPapers)
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