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Purpose: The objective of this paper is to determine the impact of terrorism on the sustainability of the development of West African countries, highlighting the role and interactions of income inequality and the level of education in this relationship for the period 2000–2019. Design/methodology/approach: The appropriate tests indicated that the dynamic ordinary least squares (DOLS) model is the most suited to analyze the terrorism phenomenon in the study area. Findings: The results confirm the critical challenge to sustain economic development in a context marked by a high risk of terrorist attacks. Fortunately, the negative effect of terrorism on economic development is not a fatality. Ways do exist to limit the magnitude of the phenomenon impacts since the results also revealed that countries with higher percentages of educated people experience a lower magnitude of terrorism impact. Similarly, reducing inequalities is another way of controlling the magnitude of terrorism's impact on development sustainability. Originality/value: This paper aims to contribute to the economic literature on the economic effects of terrorism in two main ways. First, to the author's knowledge, this is the first attempt to establish terrorism implications in terms of development sustainability in the ECOWAS region. The second contribution is that the author tries to find an empirical validation of the hypothesis according to which an increase in the level of education and improvement in income distribution could reduce the impact of terrorism on development sustainability. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2022-0565. [ABSTRACT FROM AUTHOR]

The financial system has an important component which adds to social welfare. Investment and consumption expenditures contribute to the increase in production by meeting the capital requirement. The study examines the impact of financial development on income inequality for 13 member nations of the OECD between 1993 and 2017 in light of the panel data method. In the study, income inequality is used as a proxy for the GINI coefficient, while the banks' domestic credit to the private sector is utilized to represent financial development. In addition, the model utilizes control variables, including per capita income, trade openness, inflation, and public spending. The panel data regression results reveal that financial development has a positive effect on income inequality. The results of the paper support the Income Inequality Widening Hypothesis, which suggests that the situation which favours individuals with high income levels who have access to financial resources continues when financial development increases, which in turn increases income inequality. [ABSTRACT FROM AUTHOR]

In the United States, the rise in income inequality and downward intergenerational social mobility since the 1970s represent twin problems facing community and economic development today. This paper proposes a Structure of Labor theory to apply at the local and regional level to address these development challenges. The objective is to provide a simple local approach to development that maximizes upward economic mobility and enables individuals and communities to achieve their development goals in the 21st century development landscape of the United States. The proposed theory fuses free-enterprise principles with state-planned dirigiste efforts to maximize the best of both theoretical perspectives. After reviewing pertinent literature and articulating the Structure of Labor theory, the latter sections of the paper explicate its implications for community and economic development practice. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic led to unprecedented 'lockdowns' and stay-at-home orders to prevent the spread of infection. Social scientists have analysed mobility during these lockdowns to understand compliance at a population-level, and whether there were systematic barriers to compliance for certain population groups. Much of this analysis has used mobility data from private companies, gathered via smartphones. In this paper, we consider an unexplored source of such data - urban management administrative data - and demonstrate its usefulness for understanding mobility, and what these patterns might reveal about socio-spatial inequality and local economic activity and suggest greater imagination when analysing such data. [ABSTRACT FROM AUTHOR]

This study aims to investigate the influence of digital financial inclusion on China's urban–rural income disparity. A comparative analysis on income differences between western and eastern regions in China was conducted in this paper. The study utilized a static panel approach as it consisted of 22 provinces in China that covered the period from 2011 to 2020. This paper employs Stata software for the data analysis. The dependent variable of this study is the urban–rural income gap. Meanwhile, the independent variables consist of the total index level, breadth of coverage, depth of use, degree of digitization, digital payment level, digital insurance level, and digital credit level. The control variables employed in this article are education level, financial support, economic transformation, technological progress, and trade openness. The empirical outcomes indicate that the seven independent variables potentially minimize the urban–rural income gap between the two regions. However, digital financial inclusion appears to have a more significant effect in lessening the urban–rural gap in the western region compared to the eastern region in China. The findings demonstrate that all the variables exhibit a higher degree of influence on the urban–rural income differences in the west than in the east, except for the credit index. The outcome reveals that the effect of the credit index in the western region (0.10%) is slightly lower than the eastern region (0.11%). In general, the present findings can provide valuable insights for policy makers in their efforts to address the urban–rural income gap in the two regions through the implementation of digital financial inclusion initiatives. The study should be conducted regularly to observe the trend of the income disparities between the western and eastern regions in China. Future studies can also focus on other regions or narrow the focus to provincial and city levels to capture more detailed information. [ABSTRACT FROM AUTHOR]

The main path of development credit funds in rural poverty alleviation in Y province is crucial. This paper studies the rural poverty alleviation work in extreme poverty areas in Yunnan and puts forward targeted and instructive policy suggestions for specific difficult areas. Research the relationship between credit resource allocation and rural poverty alleviation. The existing research is mainly based on the relationship between financial development and economic growth, income growth, income distribution, and, on the surface, the relationship between the scale of financial development and the efficiency of financial development and other indicators. The purpose is to put forward targeted measures and suggestions on the basis of theoretical research and model analysis to help the Yunnan banking industry support poverty alleviation. The results of the study show that there is a causal relationship between agriculture-related loans. [ABSTRACT FROM AUTHOR]

This paper empirically tests the relationship between digital finance and income distribution of residents in 280 cities in China from 2011 to 2020 using linear and nonlinear models, respectively. Based on the Greenwood-Jovanovic (G-J) theory of output grow, the empirical study shows that there is a Kuznets effect of digital finance development on the income distribution of Chinese residents, and most regions have not yet crossed the inflection point of the bell-shaped curve, and the income gap within regions will continue to increase with the development of digital finance. Furthermore, the threshold model test shows that the positive effect of digital finance on the income disparity of residents may initially increase with the increase of regional economic level. However, when the regional economic development reaches a higher stage, the negative effect of digital finance development on the income distribution of residents will be significantly reduced. [ABSTRACT FROM AUTHOR]

Using the statistical data of 280 prefectural-level cities in China from 2011 to 2020, this paper empirically tests the relationship between digital finance and residents' income in a linear and nonlinear model based on the G-J model theory, respectively. The study aims to discuss and analyze the impact of digital finance development on income distribution in the context of the current situation of digital finance development in China and further explore how to make digital finance better regulate the income distribution of residents. The innovation of this paper is to use two nonlinear methods to verify the Kuznets effect and threshold characteristics of digital financial development affecting the income distribution of residents based on linear analysis and explore the relationship between n digital economic development the current income gap more comprehensively. The study shows a Kuznets effect of digital finance development on the income distribution of Chinese residents. Thus, most regions in China have not yet crossed the inflection point of the bell-shaped curve, and the income gap within areas will continue to increase with the development of digital finance. By constructing a threshold model, it is found that the positive effect of digital finance on income disparity may initially increase with the increase of regional economic level. Still, when the regional economic development reaches a higher stage, the effect will tend to fall back. As a result, the negative impact of digital finance development on residents' income distribution will be significantly reduced at that time. [ABSTRACT FROM AUTHOR]

This paper examines the connection between measures of a U.S. metropolitan area's new urban crisis (i.e., unaffordable housing, economic inequality, and residential segregation) and its year-over-year employment change in the period immediately before and during the COVID-19 pandemic. Results show that measures of the new urban crisis did not generally have a statistically significant association with year-over-year employment change between January and September of 2020, which captures the period before COVID-19 and the beginning of the pandemic (e.g., shutdown). The severity of a region's economic segregation and inequality, however, are associated with higher rates of employment decline in the early recovery months of October to December of 2020. These findings suggest that places that rate worse for indicators of the new urban crisis were less able to recover from the negative economic shocks related to COVID-19. [ABSTRACT FROM AUTHOR]

Neoliberalism is a political-economic philosophy that consists of two claims: one economic and the other political. The economic claim is: that free market laissez faire economies are the best way to organize economic activity as they generate efficient outcomes that maximize well-being. The political claim is: that free market economic arrangements promote individual liberty. This paper argues both claims are problematic. The evidence from the forty-year experiment that began in 1980 shows neo liberalism has undercut shared prosperity and unleashed illiberal forces that threaten liberty. The paper distinguishes between the first political turn which saw the establishment of neoliberal political hegemony, and the second one toward proto-fascism that we are now experiencing. The second turn is being driven by a collection of factors that have created a demand for proto-fascism and weakened the defenses against alt-right ideas. Those factors include socio-economic disembedding, institutional destruction and political disembedding, increased economic inequality that tilts political power, an alteration in attitudes to government and governance, transformation of economic identity, and a cultural transformation that celebrates sociopathic egotism. The Third Way's capture of center-left politics means liberal elites occupy the political place that should be held by true opponents of neoliberalism. Those liberal elites obstruct the politics needed to reverse the deep causes of the drift to proto-fascism. Ironically, that makes those elites a real danger. [ABSTRACT FROM AUTHOR]

This paper studies the effects of foreign direct investment (FDI) on domestic terrorism. Using a cross-national, time-series analysis of 114 countries from 1991–2017, and employing structural equation modeling to test a number of mediating factors, we find that the impact of FDI on domestic terrorism depends on the host state's level of economic development. For host countries at higher-income levels, FDI boosts economic development and global integration promoting prosperity, increasing counterterrorism resources, and reducing the economic grievances that foster terrorism. Conversely, for lower-income host countries, increased FDI fuels higher domestic terrorism, as it intensifies clashes between traditional and modern elements within society, raises economic discrimination, heightens perceptions of economic insecurity, and subsequently leads to grievances directed against the state. Our results indicate a curvilinear relationship between FDI inflows and domestic terrorism, suggesting that FDI produces a double-edged sword between promoting economic development and increasing domestic terrorism in host states. [ABSTRACT FROM AUTHOR]

This paper investigates the extent to which the East African Community (EAC) countries have developed economically over time and whether income inequality decreases with economic growth. The relationship between trade and GDP per capita amongst EAC member countries is evaluated using the World Bank's meta-data of development indicators and the EAC Secretariat's data spanning from 2000--2019. Convergence in GDP per capita and inequality are tested using Coefficient of variation (CV) and weighted beta. The results show that agriculture, manufacturing, trade and repair, construction, and transport and storage constituted the top five GDP value adding activities, contributing about 38 percent to total annual GDP. The EAC GDP per capita were diverging in the long run but converging in short to medium terms, implying increase and decrease in the regional income inequality respectively. Agriculture, electricity and gas, transport and storage, real estate activities, public administration, and education were income inequality-increasing sectors. Together with finance and insurance, these sectors were also positively associated with GDP per capita. The exports of EAC member countries were found to be highly concentrated in few sectors and destination markets, implying limited diversification of products and markets. In their quest to diversify, these countries should choose the right mixes of export goods and services keeping in view of the prevailing market factors in importing countries, such as, changing taste and demands. [ABSTRACT FROM AUTHOR]

The increasing wave of protectionism in various corners of the world with the use of seemingly attractive but economically misleading slogans (shortening supply chains, onshoring, reshoring, nearshoring, friend-shoring, reindustrialization, and ending/correcting 'hyperglobalization', etc.) creates a serious challenge to the global trading system and global economic development. Trade and financial transactions have also become victims of the increasing number of geopolitical conflicts and tensions, both 'hot' and 'cold'. Before it becomes too late, i.e., before the current trade tensions go too far and create the hardly reversible spiral of trade and financial wars, retaliations, etc., it is desirable to reflect on what can be lost due to protectionism. This essay analyzes four areas that have benefited from global economic integration since the 1980s (economic growth, poverty eradication, reduction in global economic inequalities, and disinflation) and may suffer from its reversal. It also discusses potential remedies that may help stop a protectionist drift. [ABSTRACT FROM AUTHOR]

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Social and institutional determinants of economic development are attracting increasing attention among development economists. The present paper analyses the impact of macro-level social capital and related social factors on economic development in 34 European countries. Macro-level social capital comprises different aspects of institutional quality and is closely related to income distribution and social cohesion. We used principal component analysis to group initially selected social determinants of economic development into three components (human and social capital, income equality, and redistribution), which altogether describe 64.4% of the variation in initial variables. The following regression analysis proved that all these components have a positive effect on economic development, measured by the human development index. [ABSTRACT FROM AUTHOR]

As a new service system of finance, inclusive finance emphasizes on better meeting the needs of people's livelihood at a reasonable and affordable cost. Inclusive finance can effectively solve the problems existing in the process of high-quality economic development by promoting regional coordinated development and narrowing the income gap between urban and rural areas. Firstly, this paper constructs the inclusive financial development level measurement index system and high-quality economic development measurement index system, uses these two index systems to measure the development of inclusive finance and high-quality economy of the Yangtze River Delta in China from 2010 to 2019, and then empirically analyzes the impact of Inclusive Finance on high-quality economic development in the Yangtze River Delta by using the panel threshold model. The results show that the inclusive financial development level and high-quality economic development level of cities under the jurisdiction of the Yangtze River Delta have increased steadily year by year, but the development level differentiation among different cities is obvious. Inclusive finance has a threshold effect on high-quality economic development. When the inclusive finance index is lower than 0.358, inclusive finance is not conducive to high-quality economic development. When the inclusive financial development index is between 0.358 and 0.522, inclusive finance promotes high-quality economic development, but the effect is weak. When the inclusive financial development index is greater than 0.522, inclusive finance can significantly promote high-quality economic development. [ABSTRACT FROM AUTHOR]

Studies show that the low level of economic development in countries occasioned by high income inequality levels may be addressed by financial inclusion policies via providing increased access and availability of formal financial services to the financially excluded segment of the economy. This paper investigates the extent to which this is applicable in Nigeria using the Auto regressive distributed lag estimation technique on time series data for the period 1985 to 2019. The results, consistent with the special agent theory of financial inclusion, show that financial inclusion significantly reduce the income inequality gap in Nigeria. Furthermore, the results also suggest that education and economic growth lowers the gap while population widens the gap. Based on this, the study recommends that policy makers in Nigeria put in more efforts to achieve the set target rate of financial inclusion as well put in place population reducing polices to further reduce the gap while promoting policies that will actualise the potentials of the other indices. [ABSTRACT FROM AUTHOR]

This paper argues that the neoliberal consensus about education finance has broken down due to growing economic inequality. First, I use a comparative historical analysis of political alliances to examine patterns of world trade and nations' policies for economic and educational development since World War II. The United States emphasized STEM-collegiate preparation for all students, while most countries continued the dual emphasis on technical-tertiary and higher education. Educational policy in the US and Pacific region also shifted towards a reliance on markets and student loans resulting in worsening economic inequality in access. Nations with dual technical and academic pathways in secondary and postsecondary education systems expand college enrollment rates more rapidly than the US. They also experience class conflict between the working–middle class and the new technological elite. Next, I examine how education policy shifted from national planning aligned with public funding to market-based incentives for institutional development, further exposing gaps in opportunity within nations. Finally, recognizing the variations in systemic causes of inequality, I argue that governments, education agencies, and civic activists can best promote equity by organizing to address barriers to opportunity for groups left behind in the wake of withering neoliberal education policy. [ABSTRACT FROM AUTHOR]

The article is devoted to the essence and features of the formation of personal income tax gaps. The object of the paper is 1795 publications indexed in the Scopus database on the tax gaps in the national economy. The time horizon of the study was in 1935—2021. On the basis of bibliometric analysis, the main directions of the study of tax gaps are determine, the trend of changing the number of publications on this issue is analyzed. It is concluded that the theory of tax gap management is quite young and is currently only in its infancy. By the VOSViewer tools, five patterns of frequency of use of keywords in scientific works devoted to the issues of forming tax gaps have been identified, their connection with other economic categories have been determined. The analysis of the publications indexed in the Scopus database on a geographical basis is carried out. Clustering international research networks based on bibliometric analysis of scientific papers on the theory of tax gaps management by geographical location have been done. The article identifies the top Scientific Journals indexed by the Scopus database in which the issues of tax gap management were published most often. According to the Scopus database the most popular theories within this problem are: social theories, inequality and tax morality, management and motivation theories, sustainable development theory, production theory, concepts of fiscal policy implementation. A methodical approach to the assessment of tax gaps for personal income tax is proposed. The personal income tax gaps for Ukraine and European Union countries has been estimated. An average volume of personal income tax gaps within 7—28 %, and there is no positive dynamics in its reducing. The countries with the highest volume of personal income tax gaps include Greece, Poland, the Slovak Republic, Turkey, with the lowest — Germany, Belgium, Latvia, Luxembourg. Based on the Multiple regressions test, the hypothesis about the significant impact of tax gaps on personal income tax on the country’s economic development indicators was tested. Graphical interpretation of the link between the personal income tax gap and GDP for Ukraine and European Union countries indicates a negative correlation between them. [ABSTRACT FROM AUTHOR]

This paper presents an innovative interpretative scheme of the relationship between economic growth and income inequality, taking the primary distribution of income between profits and wages as the main explanatory variable. For that purpose, two lines of research are taken as a reference point: first, the Bhaduri-Marglin Model, which explains growth in terms of the effect that factor shares have on aggregate demand; and second, recent empirical analyses that also use the functional distribution to explain the evolution of the top income shares and the Gini index. After reviewing the literature on the growth-inequality relationship, the paper identifies several relationships between primary and interpersonal distributions of income in each of the Bhaduri-Marglin Model's growth regimes. It finds multiple causal relationships between growth and inequality as well as inequality and growth, clarifying their implications for economic and social stability. The paper offers final reflections on the way the scheme can further the understanding of current economic and social crises. [ABSTRACT FROM AUTHOR]

This paper aims to analyze the determinants of cash usage in a selection of European Union (EU) countries over the 2003–2016 period, based on a set of technological, socioeconomic, and socio-cultural indicators and cost components. Our results reveal the existence of both common and region-specific determinants for the EU advanced and Central and Eastern European (CEE) countries. In both groups cash usage is determined by payment system characteristics. Additionally, in the EU advanced countries cash usage can also be explained by the level of economic development and income inequalities and proliferation of Internet. In contrast, cash usage in CEE countries is negatively associated with consumer confidence and is inversely related to the technological progress, expressed in terms of mobile users. [ABSTRACT FROM AUTHOR]

This paper aims at analysing the causes and effects of increasing financial accumulation by Italian firms, within a radical Institutional theoretical framework. It will be argued that financialisation can be imputed to the fact that the biggest Italian companies aim to increase their profits through speculation after the cycle of class struggle of the 1970s. It will also be shown that financial accumulation has contributed to the reduction of economic growth and to the increase of income inequalities. Since very few research studies have dealt with the Italian case, this paper fills a gap. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine the relationship between foreign aid and income inequality (IIQ) reduction for 16 African countries using unbalanced panel data covering the period 1990–2011. This paper attempts to answer the critical question: does foreign aid lead to IIQ reduction?Design/methodology/approach To examine the effect of foreign aid on IIQ, this paper uses an RE model with robust OLS regression and system-GMM estimator, which are useful in dealing with the endogeneity problems.Findings Results of RE model indicate that foreign aid, foreign direct investment, trade openness as well as corruption have a positive and statistically significant effect on IIQ. Government spending and inflation have a negative and statistically significant effect on IIQ, while GDP per capita growth has a negative but statistically insignificant relationship with IIQ. The results are robust by using system-GMM dynamic panel model which confirms that the coefficients of all considered variables remain same sign and significance.Research limitations/implications This study implies that an increase in foreign aid is associated with an increase in IIQ. As an effective strategy to foreign aid, this paper suggests that improving of financial sector development, and institutional quality and policies can reduce income inequalities and stimulate economic growth.Originality/value This paper is the first of its kind to empirically explore the relationship between IIQ and foreign aid measured here by net aid transfers as a share of GDP in African countries, using modern econometric techniques, time period and a variety of control variables. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to reexamine Milton Friedman and Anna J. Schwartz's argument regarding major business cycle movements, limiting the analysis to business cycle peaks and excluding troughs. Friedman-Schwartz argued that appreciable changes in the rate of growth of the stock of money are a necessary and sufficient condition for appreciable changes in the rate of growth of money income. The necessity and sufficiency of a monetary deceleration for a business cycle peak are explored using a definition of monetary deceleration that takes account of both the size and duration of a change in the growth rate of money.

The paper develops a model in which the relation between the real exchange rate and the real wage, in the context of conflictive income distribution, is made explicit. It is noted that the central bank tries to regulate the distributive relation exchange rate and real wages through the changes in the interest rate. The theoretical point is that, under certain circumstances, a relatively depreciated or high level of the real exchange rate might reduce real wages and have a negative impact on economic growth. The paper also provides some evidence for the Argentine case, and suggests that the Classical Developmentalist elasticity pessimism seems, in the case of Argentina, to be validated. Also, the use of the exchange rate as an instrument to bolster redistribution away from the working class, and to promote investment and growth is also not born in the data. [ABSTRACT FROM AUTHOR]

The empirical literature on trade liberalization reflects two puzzles. First, the effect of trade liberalization on economic growth is ambiguous. Second, the effect of trade liberalization by developing countries on their income distribution is ambiguous. This paper attempts to explain simultaneously these two puzzles, based on a multiple-cone neoclassical growth model. The model shows that countries that are labour abundant in a global sense may see a rise in income inequality and a fall in per capita gross domestic product with liberalization if they are capital abundant in a local sense. The results suggest that the existence of multiple cones and the multiple steady states within the same cone, or the existence of global and local factor abundances, can be a possible explanation of these puzzles. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine income inequality and income mobility, which have been central to understanding India’s recent economic development.Design/methodology/approach This paper uses the first two waves of the India Human Development Survey data for the year 2004–2005 and 2011–2012 to analyze income inequality and income mobility using longitudinal data, and is the first to do so at a nationally representative level. In this research paper, we address three related research questions: How have been the patterns of income mobility in India? What are the trends, levels and sources of income inequality in India? and finally And What is the structure of household income mobility?Findings The paper examines the trends, levels, sources and factors of income inequality and income mobility in India between 2005 and 2012. The results further show the case for high persistence at the top of income distribution but lower persistence at the bottom.Research limitations/implications Because of the chosen research approach, the research results may lack spatial analysis. Therefore, researchers are encouraged to test the proposed propositions further.Practical implications The paper suggests that, in the end, the nature of longer-term well-being is crucial to designing policy interventions to effectively tackle inequality, and economic mobility can be seen as an avenue to long-term equality.Social implications This study can further be extended to look at polarization issues at the national and sub-national levels.Originality/value This paper shows the analytical framework of additive decomposition of income mobility out of two sources, namely mobility due to the transfer of income within given structure and mobility due to economic growth or contraction in rural and urban India. [ABSTRACT FROM AUTHOR]

The aim of this paper is to evaluate the impact of FDI along with domestic physical investment and human capital on the regional income, and their role in the regional income convergence within the Czech economy over the periods from 1998-99 to 2013-14. The paper considers 14 regions of the Czech Republic and uses panel fixed effect regression and dynamic panel growth framework for the empirical analysis. The result finds that the role of physical capital formation and FDI along with the human capital are crucial for the regional disparity in income in the Czech Republic. There is also evidence of the convergence of per capita income at the speed of 7.8 per cent among the regions by conditioning physical investment and human capital along with FDI. This paper suggests that regional disparity in income can be reduced by the equitable allocation of investment and FDI, and equal development of human capital. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to examine the relationship between financial development and income inequality in India using annual data from 1982-2012. Design/methodology/approach -- Stationarity properties of the series are checked by using ADF, DF-GLS, KPSS and Ng-Perron unit root tests. The paper applied the auto regressive distributed lag (ARDL) bound testing approach to co-integration to examine the existence of long run relationship; and error correction mechanism for the short run dynamics. Findings -- The co-integration test confirms a long run relationship between financial development and income inequality for India. The ARDL test results suggest that financial development, economic growth, inflation aggravates the income inequality in both long run and short run. However, trade openness reduces the gap between rich and poor in India. Research limitations/implications -- The present recommend for appropriate economic and financial reforms focussing on financial inclusion to reduce income inequality in India. Originality/value -- Till date, there is hardly any study that makes a clear comparison between market-based indicator and bank based indicator of financial development in India and those examining the relationship between finance and income inequality nexus. Further there is hardly any study to include gini coefficient as a proxy for inequality for India and apply ARDL techniques of co-integration, using the basic principles of GJ hypothesis and provide short run and long run dynamics for India. So the contribution of the paper is to fill these research gaps. [ABSTRACT FROM AUTHOR]