Institutional quality and income inequality in the advanced countries

The purpose of this paper is to shed more light on the effects of changes in quality of economic, legal and political institutions on income inequality in the advanced countries over the last two decades. Using the robust panel model on a sample of 21 OECD countries, it is found that the im...

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Main Authors:	Josifidis Kosta, Supić Novica, Beker-Pucar Emilija
Format:	Article
Language:	English
Published:	Economists' Association of Vojvodina 2017-01-01
Series:	Panoeconomicus
Subjects:	income inequality institutions redistribution elites
Online Access:	http://www.doiserbia.nb.rs/img/doi/1452-595X/2017/1452-595X1702169J.pdf

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spelling	doaj-ccfa7aa0578741a9a791568eab0d16572020-11-24T22:29:02ZengEconomists' Association of VojvodinaPanoeconomicus1452-595X2217-23862017-01-0164216918810.2298/PAN1702169J1452-595X1702169JInstitutional quality and income inequality in the advanced countriesJosifidis Kosta0Supić Novica1Beker-Pucar Emilija2Faculty of Economics, Department of European and International Economics and Business, Novi SadFaculty of Economics, Department of European and International Economics and Business, Novi SadFaculty of Economics, Department of European and International Economics and Business, Novi SadThe purpose of this paper is to shed more light on the effects of changes in quality of economic, legal and political institutions on income inequality in the advanced countries over the last two decades. Using the robust panel model on a sample of 21 OECD countries, it is found that the impact of elitization of society is more pronounced than the impact of unionization on income redistribution, but both effects are less expressed in comparison to the influence of institutional changes on redistribution. In a globalized economy, insufficient redistribution and high inequality might be interpreted as the consequence of institutional inertia to disruptive technological and business changes.http://www.doiserbia.nb.rs/img/doi/1452-595X/2017/1452-595X1702169J.pdfincome inequalityinstitutionsredistributionelites
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Josifidis Kosta Supić Novica Beker-Pucar Emilija
spellingShingle	Josifidis Kosta Supić Novica Beker-Pucar Emilija Institutional quality and income inequality in the advanced countries Panoeconomicus income inequality institutions redistribution elites
author_facet	Josifidis Kosta Supić Novica Beker-Pucar Emilija
author_sort	Josifidis Kosta
title	Institutional quality and income inequality in the advanced countries
title_short	Institutional quality and income inequality in the advanced countries
title_full	Institutional quality and income inequality in the advanced countries
title_fullStr	Institutional quality and income inequality in the advanced countries
title_full_unstemmed	Institutional quality and income inequality in the advanced countries
title_sort	institutional quality and income inequality in the advanced countries
publisher	Economists' Association of Vojvodina
series	Panoeconomicus
issn	1452-595X 2217-2386
publishDate	2017-01-01
description	The purpose of this paper is to shed more light on the effects of changes in quality of economic, legal and political institutions on income inequality in the advanced countries over the last two decades. Using the robust panel model on a sample of 21 OECD countries, it is found that the impact of elitization of society is more pronounced than the impact of unionization on income redistribution, but both effects are less expressed in comparison to the influence of institutional changes on redistribution. In a globalized economy, insufficient redistribution and high inequality might be interpreted as the consequence of institutional inertia to disruptive technological and business changes.
topic	income inequality institutions redistribution elites
url	http://www.doiserbia.nb.rs/img/doi/1452-595X/2017/1452-595X1702169J.pdf
work_keys_str_mv	AT josifidiskosta institutionalqualityandincomeinequalityintheadvancedcountries AT supicnovica institutionalqualityandincomeinequalityintheadvancedcountries AT bekerpucaremilija institutionalqualityandincomeinequalityintheadvancedcountries
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Institutional quality and income inequality in the advanced countries

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