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Globalization and Income Inequality in Mexico, Indonesia, Nigeria, and Turkey: A Dynamic GMM Approach

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  • Tolulope Temilola Osinubi
  • Philip Akanni Olomola

Abstract

This study examines the effect of globalisation on income inequality in Mexico, Indonesia, Nigeria, and Turkey between 1980 and 2018, using economic, social, political, and overall globalisation as proposed by Dreher., Gaston, and Martens (2008). The study employs a dynamic Generalised Method of Moments. Results show that economic globalisation significantly increases income inequality in Mexico and Turkey, but insignificantly reduces inequality in Indonesia and Nigeria. For social globalisation, inequality responds positively to it in all the MINT countries, except in Turkey. Political globalisation adds to income inequality in Mexico, but reduces inequality in Nigeria and Turkey. In Indonesia, political globalisation exerts insignificant positive effect on inequality. Overall globalisation increases income inequality in all the MINT countries, except in Indonesia. The study, therefore, concludes that the various dimensions of globalisation and overall globalisation are key drivers of income inequality in each of the MINT countries, except in some few cases.

Suggested Citation

  • Tolulope Temilola Osinubi & Philip Akanni Olomola, 2020. "Globalization and Income Inequality in Mexico, Indonesia, Nigeria, and Turkey: A Dynamic GMM Approach," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 7(1), pages 91-104.
    • Handle: RePEc:aoj:ajeaer:v:7:y:2020:i:1:p:91-104:id:1616
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    Citations

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    Cited by:

    1. Tolulope Osinubi & Simplice Asongu, 2020. "Globalization and female economic participation in MINT and BRICS countries," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 48(6), pages 1177-1193, October.
    2. Osinubi Tolulope T. & Ajayi Adedoyin O. & Osinubi Olufemi B. & Olaniyi Clement O., 2021. "A New Intuition into Tourism-Inclusive Growth Nexus in Turkey and Nigeria (1995 – 2018)," Economics, Sciendo, vol. 9(1), pages 221-241, June.
    3. Temilola Osinubi, Tolulope, 2020. "The Role Of Income Inequality In The Globalisation-Poverty Nexus: Empirical Evidence From Mint Countries," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 7(2), pages 67-89, June.
    4. Titus A. Ojeyinka & Tolulope T. Osinubi, 2022. "The moderating role of financial development in the globalization-sustainable development nexus in some selected African Countries," Economic Change and Restructuring, Springer, vol. 55(4), pages 2051-2080, November.
    5. Mama Usman, Aminat, 2022. "Globalization, Economic Development On Gender Inequality In Nigeria," Ilorin Journal of Business and Social Sciences, Faculty of Social Sciences, University of Ilorin, vol. 24(2), pages 137-154, October.

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