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The global inequality boomerang

Author

Listed:
  • Ravi Kanbur

    (Cornell University)

  • Eduardo Ortiz-Juarez

    (King's College, London)

  • Andy Sumner

    (King's College, London)

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

  • Ravi Kanbur & Eduardo Ortiz-Juarez & Andy Sumner, 2022. "The global inequality boomerang," Working Papers 608, ECINEQ, Society for the Study of Economic Inequality.
    • Handle: RePEc:inq:inqwps:ecineq2022-608
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    File URL: http://www.ecineq.org/milano/WP/ECINEQ2022-608.pdf
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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. Gradín, Carlos, 2024. "Revisiting the trends in global inequality," World Development, Elsevier, vol. 179(C).
    2. van der Ploeg, Frederick & Emmerling, Johannes & Groom, Ben, 2023. "The social cost of carbon with intragenerational inequality and economic uncertainty," LSE Research Online Documents on Economics 117898, London School of Economics and Political Science, LSE Library.

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    More about this item

    Keywords

    global inequality; inequality boomerang; COVID-19 pandemic;
    All these keywords.

    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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