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Income Inequality and Oil Resources: Panel Evidence from the United States

Edmond Berisha (), Carolyn Chisadza, Matthew Clance () and Rangan Gupta ()
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Edmond Berisha: Feliciano School of Business, Montclair State University, Montclair, NJ 07043, USA

No 2020103, Working Papers from University of Pretoria, Department of Economics

Abstract: There has been little research examining income distributional consequences from resource abundance and dependency. Using panel evidence from the United States, we find contrasting non-monotonic outcomes from oil abundance in comparison to oil dependency. Oil abundance mitigates inequality within U.S. states. However, the diminishing impact on inequality tends to lessen with higher levels of oil production. The opposite holds true for oil dependency. The findings suggest that income inequality within U.S. states is more vulnerable to oil dependency.

Keywords: oil resources; income inequality; United States (search for similar items in EconPapers)
JEL-codes: D63 O13 O51 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2020-11
New Economics Papers: this item is included in nep-ene and nep-ore
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