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Does Technological Progress, Trade, or Financial Globalization Stimulate Income Inequality in India?

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영문명
발행기관
한국유통과학회
저자명
Arun Kumar GIRI Rajan PANDEY Geetilaxmi MOHAPATRA
간행물 정보
『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.2, 111~122쪽, 전체 12쪽
주제분류
경제경영 > 경제학
파일형태
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발행일자
2021.02.28
무료

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The main purpose of the present research is to analyze the effects of trade, financial globalization, and technological progress on income inequality in the Indian economy over the period from 1982 to 2018. For this purpose, the study uses economic growth, financial globalization, trade openness, technological development, and economic inequality variables with appropriate proxies. The study employs the Auto Regressive Distributed Lag (ARDL) approach to co-integration and VECM based Granger causality approach to estimate both the short-run and long-run relationship and causality among variables. Using the ARDL bounds test, the study finds a long-run co-integrating relationship existing among the variables in the model. The study confirms the existence of a positive and significant impact of technological progress on income inequality. Further, globalization’s limited impact reflects two offsetting tendencies; trade globalization is associated with a reduction in income inequality, while financial globalization is related to an increase in inequality. The results of VECM based Granger causality approach further confirm that technological progress, trade, and financial globalization causes income inequality both directly and indirectly through economic growth and inflation. In case of India, the results of this research can significantly facilitate stakeholders and policymakers in devising policies towards effective globalization and technological innovation for inclusive growth.

목차

Ⅰ. Introduction
Ⅱ. Literature Review
Ⅲ. Methodology and Data Description
Ⅳ. Results and Discussion
Ⅴ. Summary and Conclusions

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APA

Arun Kumar GIRI,Rajan PANDEY,Geetilaxmi MOHAPATRA. (2021).Does Technological Progress, Trade, or Financial Globalization Stimulate Income Inequality in India?. The Journal of Asian Finance, Economics and Business(JAFEB), 8 (2), 111-122

MLA

Arun Kumar GIRI,Rajan PANDEY,Geetilaxmi MOHAPATRA. "Does Technological Progress, Trade, or Financial Globalization Stimulate Income Inequality in India?." The Journal of Asian Finance, Economics and Business(JAFEB), 8.2(2021): 111-122

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