Abstract
The paper empirically investigates the impact of natural resource abundance, in particular oil, on income disparities. It employs common correlated effects pooled mean group methodology for estimation to account for the cross-country heterogeneity and cross-section dependence in the oil-inequality nexus. In a sample of developed and developing countries, we find that oil abundance as well as oil dependence reduce income inequality. This inequality-reducing effect is highly likely to operate from better education attainments and improved health status due to oil booms.
| Original language | English |
|---|---|
| Pages (from-to) | 1-24 |
| Number of pages | 24 |
| Journal | Environmental and Resource Economics |
| DOIs | |
| Publication status | Accepted/In press - 2017 Oct 23 |
Keywords
- Heterogeneous panels
- Income inequality
- Oil
ASJC Scopus subject areas
- Aerospace Engineering
- Economics and Econometrics
- Management, Monitoring, Policy and Law
