Income Inequality, Economic Freedom, and Economic Growth in Greece: A Multivariate Analysis

Antonis Tsitouras () and Harry Papapanagos ()
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Antonis Tsitouras: University of Western Macedonia
Harry Papapanagos: University of Macedonia

Chapter Chapter 30 in Advances in Empirical Economic Research, 2023, pp 485-503 from Springer

Abstract: Abstract This empirical research applies the autoregressive distributed lag (ARDL) econometric technique to investigate the long- and short-run effects of economic growth and economic freedom on income inequality in Greece between 1980 and 2019. This study advances previous empirical studies by incorporating two auxiliary variables into the aforementioned nexus: population growth and tertiary educational attainment. Considering our findings, it is envisaged that Greek policymakers should consider economic freedom as an important long-term goal when contemplating policies aimed at reducing income inequality. In the short term, however, economic growth appears more effective than economic freedom in promoting income equality. Finally, the two demographic variables, population and educational attainment, emerged as critical determinants in promoting income equality.

Keywords: Income inequality; Economic freedom; Economic growth (search for similar items in EconPapers)
JEL-codes: C32 D31 E02 P46 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-22749-3_30

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DOI: 10.1007/978-3-031-22749-3_30

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