Examining the relationships between income inequalities and different dimensions of well-being in selected Central Eastern European (CEE) countries

Szczepaniak, Małgorzata; Geise, Andrzej

doi:10.1371/journal.pone.0250469

Cited by 2 publications

(1 citation statement)

References 49 publications

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“…Szczepaniak and Geise [25] investigated the relationship between income inequality and 5 aspects of well-being in 8 CEE countries. The panel autoregressive distributed lag (ARDL) model and in-depth analysis of data for the period 2004-2018 were used for that purpose.…”

Section: Introductionmentioning

confidence: 99%

Multivariate analysis of post-transition OECD countries in the context of inequality measures

Korotaj

Kurnoga

Šimurina

2023

Croat. oper. res. rev. (Online)

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The aim of this paper is to classify the post-transition OECD countries according to the Gini coefficient for income inequality, the S80/S20 ratio, the income share of the bottom 40% of the population, educational attainment – tertiary education, and labor force participation rate using factor and cluster analyses. Factor analysis resulted in two extracted factors, and factor scores were calculated. Hierarchical and non-hierarchical cluster analysis was performed on factor scores to classify eight posttransition OECD countries and three candidate countries. The research question of this paper is to investigate whether there are similarities/differences between existing members and candidates for membership in the OECD, among the selected post-transition countries of Europe, in the context of income inequality. Based on the dendrogram obtained by the hierarchical Ward’s method, a three cluster solution was selected. The non-hierarchical k-means method for the three-cluster solution clustered Croatia with Bulgaria and Romania. These three countries are OECD candidate countries. Our findings confirm that the three candidate countries remain behind because of historical reasons and the non-implementation of structural reforms.

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Section: Introductionmentioning

confidence: 99%

Multivariate analysis of post-transition OECD countries in the context of inequality measures

Korotaj

Kurnoga

Šimurina

2023

Croat. oper. res. rev. (Online)

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Innovations in achieving sustainable economic performance under income inequality

Čábelková

Tvaronavičienė

Strielkowski

2021

MMI

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The negative effect of income inequality on economic growth represents a topic that constitutes a broad topic of research in the standard economic theory. One of the immediate consequences of income inequality is diminished consumption. Many «poor» customers cannot provide sufficient demand for the producers, causing overproduction that might lead to an economic crisis. It constitutes a problem because sustainable economic performance needs to be achieved under the conditions of income inequality. Reducing social and economic inequality in countries is an essential step towards ensuring that no one is left behind. It is also part of the 10th Sustainable Development Goal aimed to reduce it by 2030. Inequality is based on the income distribution between the top 1% and the bottom 99% of households in any given country. The degree of inequality could play a beneficial role if it is driven by market forces and is associated with incentives to increase growth. In developing and emerging countries, greater equality and improvements in living standards are needed to enable populations to flourish. Inequality reduction is one of the most critical steps a government could take to improve the well-being of its population. The income inequality growth increases human capital in poor countries and reduces it in high and middle-income countries. In poorer countries, it increases them, but in higher – and middle-income countries, it reduces them. Income inequality could be reduced by improving human capital and general skill levels, correcting labor-market policies, and making better use of financial services. In turn, sustainable economic growth could reverse the negative effects of inequality, reducing the need for high-wage and higher-earning households. Thus, it provides higher economic growth. This paper discusses three ways to circumvent the impact of decreasing consumption on economic growth adopted in developing economies over the last fifty years, such as increasing exports, providing loans for consumption, and printing new money. The findings showed that none of these methods seem to be sustainable in the long run. Thus novel and innovative mechanisms that would allow our economy to reduce inequality are necessary and need to be put into place.

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Examining the relationships between income inequalities and different dimensions of well-being in selected Central Eastern European (CEE) countries

Cited by 2 publications

References 49 publications

Multivariate analysis of post-transition OECD countries in the context of inequality measures

Multivariate analysis of post-transition OECD countries in the context of inequality measures

Innovations in achieving sustainable economic performance under income inequality

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