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The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis

Cilt: 9 Sayı: 4 31 Aralık 2024
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The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis

Öz

Economic development and income distribution are central issues in economics, with their relationship being critical for sustainable development. Imbalances in income distribution can slow economic growth and reduce societal welfare. Thus, development policies should prioritize not just growth but also equitable income distribution. A balanced income distribution enhances social acceptance and ensures the sustainability of development. This study examines the relationship between economic development and income distribution in MIST countries (Mexico, Indonesia, South Korea, and Turkey) from 1990 to 2022, as classified by economist Jim O’Neill. Using a panel ARDL model, the findings show that economic development reduces income inequality. However, industrialization, a marker of technological progress, tends to increase inequality. These insights have significant policy implications. To mitigate income inequality, MIST countries should emphasize the three pillars of economic development: education, health, and growth. Policymakers must reassess industrialization strategies, promoting renewable energy while addressing inequality. Subsidies to non-renewable sectors and improved vocational training for unskilled labor can reduce the dual economic structure created by technological advancements. By implementing vocational programs and orientation initiatives, governments can limit the adverse effects of industrialization on unskilled workers, ensuring more equitable growth.

Anahtar Kelimeler

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Panel Veri Analizi

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

31 Aralık 2024

Gönderilme Tarihi

25 Kasım 2024

Kabul Tarihi

29 Aralık 2024

Yayımlandığı Sayı

Yıl 2024 Cilt: 9 Sayı: 4

Kaynak Göster

APA
Tarakcıoğlu Altınay, A., Tufaner, M. B., & Sözen, İ. (2024). The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis. Ekonomi Politika ve Finans Araştırmaları Dergisi, 9(4), 729-742. https://doi.org/10.30784/epfad.1591103
AMA
1.Tarakcıoğlu Altınay A, Tufaner MB, Sözen İ. The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis. EPF Journal. 2024;9(4):729-742. doi:10.30784/epfad.1591103
Chicago
Tarakcıoğlu Altınay, Ayşenur, Mustafa Batuhan Tufaner, ve İlyas Sözen. 2024. “The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis”. Ekonomi Politika ve Finans Araştırmaları Dergisi 9 (4): 729-42. https://doi.org/10.30784/epfad.1591103.
EndNote
Tarakcıoğlu Altınay A, Tufaner MB, Sözen İ (01 Aralık 2024) The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis. Ekonomi Politika ve Finans Araştırmaları Dergisi 9 4 729–742.
IEEE
[1]A. Tarakcıoğlu Altınay, M. B. Tufaner, ve İ. Sözen, “The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis”, EPF Journal, c. 9, sy 4, ss. 729–742, Ara. 2024, doi: 10.30784/epfad.1591103.
ISNAD
Tarakcıoğlu Altınay, Ayşenur - Tufaner, Mustafa Batuhan - Sözen, İlyas. “The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis”. Ekonomi Politika ve Finans Araştırmaları Dergisi 9/4 (01 Aralık 2024): 729-742. https://doi.org/10.30784/epfad.1591103.
JAMA
1.Tarakcıoğlu Altınay A, Tufaner MB, Sözen İ. The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis. EPF Journal. 2024;9:729–742.
MLA
Tarakcıoğlu Altınay, Ayşenur, vd. “The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis”. Ekonomi Politika ve Finans Araştırmaları Dergisi, c. 9, sy 4, Aralık 2024, ss. 729-42, doi:10.30784/epfad.1591103.
Vancouver
1.Ayşenur Tarakcıoğlu Altınay, Mustafa Batuhan Tufaner, İlyas Sözen. The Linkage between Economic Development and Income Distribution in MIST Countries: Panel ARDL Analysis. EPF Journal. 01 Aralık 2024;9(4):729-42. doi:10.30784/epfad.1591103

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