Explaining International and Intertemporal Variations in Income Inequality

Hongyi Li (hongyi@baf.msmail.cuhk.edu.hk), Lyn Squire and Heng-Fu Zou (hzoucema@gmail.com)

No 73, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: This paper explores the propositions that, income inequality is relatively stable within countries; and that it varies significantly among countries. A new and expanded data set provides broad support for both propositions. Drawing on a political economy and capital market imperfection arguments to explain the intertemporal and international variation in inequality, the empirical analysis shows that the predicted variables associated with the first argument (a measure of civil liberties and the initial level of secondary schooling) and the second argument (a measure of financial depth and the initial distribution of land) are indeed important determinants of inequality.

Pages: 9 pages
Date: 1998-01
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Citations: View citations in EconPapers (496)

Published in The Economic Journal, Volume 108, Issue 446, pages 26-43, January 1998

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Related works:
Journal Article: Explaining International and Intertemporal Variations in Income Inequality (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:73

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