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Effects of Country and Geopolitical Risks on Income Inequality: Evidence from Emerging Economies

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  • Wanshan Wu
  • Lijun Wang
  • Yaman Omer Erzurumlu
  • Giray Gozgor
  • Gaoju Yang

Abstract

Income inequality is rising due to the risks and uncertainties related to the COVID-19 pandemic and other risks. This paper examines the effects of country risks (measured by economic/financial and political risks) and geopolitical risks on the income inequality in the panel dataset of 19 emerging market economies from 1985 to 2020. It is observed that all risk measures are positively related to income inequality. This evidence is also valid when different empirical models and estimation procedures are considered. The results are also robust for including various controls, excluding the extreme observations in the dataset, and considering the countries at the different income levels and regions.

Suggested Citation

  • Wanshan Wu & Lijun Wang & Yaman Omer Erzurumlu & Giray Gozgor & Gaoju Yang, 2022. "Effects of Country and Geopolitical Risks on Income Inequality: Evidence from Emerging Economies," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(15), pages 4218-4230, December.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:15:p:4218-4230
    DOI: 10.1080/1540496X.2022.2070002
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    Citations

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    Cited by:

    1. Gök, Remzi & Bouri, Elie & Gemici, Eray, 2023. "Volatility spillovers between sovereign CDS and futures markets in various volatility states: Evidence from an emerging economy around the pandemic," Research in International Business and Finance, Elsevier, vol. 66(C).
    2. Osama D. Sweidan, 2023. "Geopolitical Risk and Income Inequality: Evidence from the US Economy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 575-597, September.
    3. Osama D. Sweidan, 2023. "The Effect of Geopolitical Risk on Income Inequality: Evidence from a Panel Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 167(1), pages 47-66, June.
    4. Tang, Yumei & Chen, Xihui Haviour & Sarker, Provash Kumer & Baroudi, Sarra, 2023. "Asymmetric effects of geopolitical risks and uncertainties on green bond markets," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    5. Halkos, George E. & Aslanidis, Panagiotis – Stavros C., 2023. "Sustainable energy development in an era of geopolitical multi-crisis. Applying productivity indices within institutional framework," Resources Policy, Elsevier, vol. 85(PB).
    6. Khan, Khalid & Khurshid, Adnan & Cifuentes-Faura, Javier, 2023. "Investigating the relationship between geopolitical risks and economic security: Empirical evidence from central and Eastern European countries," Resources Policy, Elsevier, vol. 85(PA).

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