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Trade globalization, financial globalization and inequality within south-east Europe and cis countries

Author

Listed:
  • Khaled Elmawazini
  • Adil Sharif
  • Pran Manga
  • Peter Drucker

    (Albright College, USA and Gulf University for Science and Technology, Kuwait
    Gulf University for Science and Technology, Kuwait
    University of Ottawa, Canada
    Albright College, USA)

Abstract

This paper contributes to the empirical literature by investigating trade globalization and financial globalization as channels of inequality within South-East Europe and the Commonwealth of Independent States (CIS) countries from 1992 to 2007. In addition, the paper uses KOF (2010) index to measure the overall impact of globalization on income inequality in South-East Europe and the CIS countries. To overcome the limitations of the least squares dummy variables (LSDV) model, Parks method is used. The paper has two results. The first result is that both trade globalization and financial globalization deepen the income inequality within South-East Europe and the CIS countries. The second result is that the overall impact of globalization have adverse effect on inequality within South-East Europe and CIS countries from 1992 to 2007. These results support the hypothesis that globalization widens the income inequality within countries.

Suggested Citation

  • Khaled Elmawazini & Adil Sharif & Pran Manga & Peter Drucker, 2013. "Trade globalization, financial globalization and inequality within south-east Europe and cis countries," Journal of Developing Areas, Tennessee State University, College of Business, vol. 47(2), pages 303-317, July-Dece.
    • Handle: RePEc:jda:journl:vol.47:year:2013:issue2:pp:303-317
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    Citations

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    Cited by:

    1. Olimpia Neagu & Florin Dumiter & Alexandra Braica, 2016. "Inequality, Economic Growth and Trade Openness: a Study Case for Central and Eastern Countries (ECE)," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 18(43), pages 557-557, August.
    2. Kossi AYENAGBO, 2021. "The Role of Financial Globalization through FDI in Driving Inequality in the Sub-Saharan Region," Applied Economics and Finance, Redfame publishing, vol. 8(5), pages 10-17, September.
    3. Mohamad, Nurul Muna & Masron, tajul & Widiyanti, Risna & Mohd Jamil, Muslimah, 2020. "Islamic Banking and Income Inequality: The Role of Corporate Social Responsibility," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 54(2), pages 77-90.
    4. Huang, Kaixing & Yan, Wenshou & Sim, Nicholas & Guo, Yuqing & Xie, Fang, 2022. "Can trade explain the rising trends in income inequality? Insights from 40 years of empirical studies," Economic Modelling, Elsevier, vol. 107(C).
    5. John C. Anyanwu, 2016. "Empirical Analysis of the Main Drivers of Income Inequality in Southern Africa," Annals of Economics and Finance, Society for AEF, vol. 17(2), pages 337-364, November.

    More about this item

    Keywords

    Income Inequality; Foreign Direct Investment; Trade; Globalization; Transition Economics; South-East Europe; Commonwealth of Independent States (CIS);
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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