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The Global Inequality Boomerang

Author

Listed:
  • Kanbur, Ravi
  • Ortiz-Juarez, Eduardo
  • Sumner, Andy

Abstract

In this paper we argue that the decline in global inequality over the last decades has spurred a ‘sunshine’ narrative of falling global inequality that has been rather oversold, in the sense, we argue, it is likely to be temporary. We argue the decline in global inequality will reverse due to changes in the between-country component. We find there is a potentially startling global inequality ‘boomerang’, possibly in the mid-to-late 2020s, which would have happened even if there were no pandemic, and that the pandemic is likely to bring forward the global inequality boomerang.

Suggested Citation

  • Kanbur, Ravi & Ortiz-Juarez, Eduardo & Sumner, Andy, 2022. "The Global Inequality Boomerang," Applied Economics and Policy Working Paper Series 319950, Cornell University, Department of Applied Economics and Management.
    • Handle: RePEc:ags:cuaepw:319950
    DOI: 10.22004/ag.econ.319950
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    References listed on IDEAS

    as
    1. Andy Sumner & Eduardo Ortiz-Juarez & Christopher Hoy, 2022. "Measuring global poverty before and during the pandemic: a political economy of overoptimism," Third World Quarterly, Taylor & Francis Journals, vol. 43(1), pages 1-17, January.
    2. World Bank, 2018. "Poverty and Shared Prosperity 2018 [Rapport 2018 sur la pauvreté et la prospérité partagée]," World Bank Publications - Books, The World Bank Group, number 30418.
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    Cited by:

    1. Frederick van der Ploeg & Johannes Emmerling & Ben Groom, 2023. "The Social Cost of Carbon with Intragenerational Inequality and Economic Uncertainty," Discussion Papers 2301, University of Exeter, Department of Economics.
    2. Gradín, Carlos, 2024. "Revisiting the trends in global inequality," World Development, Elsevier, vol. 179(C).

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    More about this item

    Keywords

    Environmental Economics and Policy;

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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