Globalization and Income Inequality: Evidence from BRICS-T Countries

Yıl 2021, Cilt: 5 Sayı: 2, 189 - 203, 31.12.2021

Büşra Bahadir , Bilge Eriş Dereli

https://doi.org/10.35342/econder.1026103

Cited By: 1

Öz

Income inequality has increased dramatically in most countries, especially in developing countries, over the past three decades and it has become a widespread concern. The widening income disparity within countries has coincided with the process in which countries are increasingly exposed to the globalization through increased flows of goods, services, capital and labour across international borders. This study examines the relationship between globalization (measured by both financial and trade variables) and income inequality (measured bu Gini index) using a panel dataset of BRICS-T countries over the 1990–2015 period. Several models are estimated by panel-corrected standard errors (PCSE) methodology. The findings indicate that trade openness’ effect is insignificant, while financial globalization occuring through stock market turnover rate, total assets and liabilities and capital account openness has been the driving force of income inequality in these countries since 1990.

Anahtar Kelimeler

Income Inequality, Trade Globalization, Financial Globalization, Net Gini Index, BRICS-T Countries

Küreselleşme ve Gelir Eşitsizliği: BRICS-T Ülkeleri Örneği

Öz

Gelir eşitsizliği geçtiğimiz otuz yıl boyunca, özellikle gelişmekte olan ülkelerde ciddi bir miktarda arttı. Artan gelir eşitsizliği, küreselleşmenin hızla yayılmaya devam ettiği dönem ile örtüşmektedir. Bu çalışma, BRICS-T ülkeleri için 1990-2015 dönemini kapsayan bir panel veri seti kullanarak gelir eşitsizliği (net-Gini endeksi ile ölçülen) ve küreselleşme (finansal ve ticaret değişkenleri ile ölçülen) arasındaki ilişkiyi incelemektedir. Standart hataları düzeltilmiş panel verileri yöntemi ile farklı birçok model tahmin edilmiştir. Çalışmanın bulguları ticari küreselleşmenin gelir eşitsizliği üzerinde anlamlı bir etkiye sahip olmadığı yönündedir. Bunun yanısıra, hisse senedi piyasası devir hızı oranı, toplam varlık ve yükümlülükler ve sermaye hesabı açıklığı aracılığıyla finansal küreselleşme 1990’dan beri bu ülkelerde gelir eşitsizliğinin artmasındaki itici güç olmuştur.

Anahtar Kelimeler

Gelir Eşitsizliği, Ticari Küreselleşme, Finansal Küreselleşme, Net Gini Endeksi, BRICS-T Ülkeleri

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