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The Impact of Country Risk on Income Inequality: A Multilevel Analysis

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  • Chi-Chuan Lee

    (Beijing Normal University Zhuhai)

  • Chien-Chiang Lee

    (National Sun Yat-sen University)

Abstract

This paper investigates the influence of country risks, including economic, financial, and political risks, on income inequality for a broad sample of 110 countries. Our empirical results reveal that higher economic and political risks generally lead to higher inequality. Lower income country appears to have higher income inequality. Furthermore, with the consideration of the non-monotonic effect of country risk, the improvement of income distribution is only sustainable dynamically after a certain threshold level of country risk has been brought down. Policymakers should improve the level of country stability by exploring the benefits of country risk reduction in order to improve income distribution.

Suggested Citation

  • Chi-Chuan Lee & Chien-Chiang Lee, 2018. "The Impact of Country Risk on Income Inequality: A Multilevel Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 136(1), pages 139-162, February.
    • Handle: RePEc:spr:soinre:v:136:y:2018:i:1:d:10.1007_s11205-016-1534-8
    DOI: 10.1007/s11205-016-1534-8
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    More about this item

    Keywords

    Economic risk; Financial risk; Political risk; Income inequality; Panel data;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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