Globalization and Income Inequality

15 Pages Posted: 28 Nov 2017 Last revised: 18 Jan 2021

See all articles by Vasil Gechev

Vasil Gechev

University of National and World Economy, Bulgaria

Date Written: November 24, 2017

Abstract

The deterioration of income inequality is frequently to be found among the suggested negative side-effects of globalization – ‘the rich get richer, and the poor get poorer’.

How relevant is this perception? In my opinion, the question can be properly answered only after:

1) a careful overview of the dynamics of poverty at the global level, and

2) objective analyses of the changes at the various dimensions of income inequality.

It is those two fields that form the basis of the research carried out in this paper, and its results suggest that associating globalization only with growing inequality is an oversimplification of the issue. Furthermore, the selective analyses of globalization’s effects – limited to a particular country or population group – are likely to result in misleading conclusions, as globalization is a multi-faceted process that entails both positive and negative effects on income inequality.

Keywords: D31, E24, F60, F66, I31, I32, O15

JEL Classification: D31, E24, F60, F66, I31, I32, O15

Suggested Citation

Gechev, Vasil, Globalization and Income Inequality (November 24, 2017). Available at SSRN: https://ssrn.com/abstract=3075482 or http://dx.doi.org/10.2139/ssrn.3075482

Vasil Gechev (Contact Author)

University of National and World Economy, Bulgaria ( email )

Sofia, 1700
Bulgaria

HOME PAGE: http://www.unwe.bg

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