ECONOMIC FREEDOM AND INCOME INEQUALITY REVISITED: EVIDENCE FROM A PANEL ERROR CORRECTION MODEL

被引：66

作者：

Apergis, Nicholas ^{[1
]}

Dincer, Oguzhan ^{[2
]}

Payne, James E. ^{[3
]}

机构：

[1] Univ Piraeus, Dept Banking & Financial Management, Attiki 18534, Greece

[2] Illinois State Univ, Dept Econ, Normal, IL 61790 USA

[3] Univ New Orleans, New Orleans, LA 70148 USA

来源：

CONTEMPORARY ECONOMIC POLICY | 2014年 / 32卷 / 01期

关键词：

CROSS-COUNTRY; GROWTH; INSTITUTIONS; TESTS; COINTEGRATION; INVESTMENT;

D O I：

10.1111/j.1465-7287.2012.00343.x

中图分类号：

F [经济];

学科分类号：

020101 [政治经济学];

摘要：

We investigate the causal relationship between income inequality and economic freedom using data from U.S. states over the period 1981 to 2004 within a panel error correction model framework. The results indicate bidirectional causality between income inequality and economic freedom in both the short and the long run. These results suggest that high income inequality may cause states to implement redistributive policies causing economic freedom to decline. As economic freedom declines, income inequality rises even more. In other words, it is quite possible for a state to get caught in a vicious circle of high income inequality and heavy redistribution. (JEL D63, H11)

引用

页码：67 / 75

页数：9

共 56 条

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