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The cubic form hypothesis and the flying geese pattern hypothesis of income distribution The case of Korea

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Frame of Image  Department of Economics, Asia University Science & Technology Policy Institute ABSTRACT
This paper examines the cubic form hypothesis and the flying geese pattern hypothesis of income distribution. We use time series data for the Gini coefficients of Korea for 1961-2006 and panel data calculated based on a household income survey for the period 1998-2003. We show; (1) The Korean economy has a cubic form inequality as shown in many advanced countries such as the U.S, U.K and Japan, and (2) Different relationships between income inequality and income level are observed among regions since less developed rural areas lagged behind more developed urban ones. Thus the pattern of the change of inequality by region in Korea has similarities to the flying geese pattern and the multiple catching up pattern that are processes of the industrialization of manufacturing.
Key Words: Income inequality, Cubic form, Flying geese pattern of development, Multiple catching-up JEL Classification: D31; O15
1
All correspondence to; Department of Economics, Seinan Gakuin University, 6-2-92
Sawara-ku, Fukuoka 814-8511, Fukuoka. Japan. E-mail address:cyl02111@nfity.com. 1
I. Introduction
Since Kuznets’ (1955) classic analysis, a large amount of research has been compiled about the relationship of economic growth to inequality. The inverted U-shape hypothesis first developed by Kuznets (1955) is as follows: First, income inequality increases at the early stage of economic development and reaches a peak


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Title The cubic form hypothesis and the flying geese pattern hypothesis of income distribution The case of Korea
Similar Titles
Material Type Reports
Author(English)

Yamamura, Eiji; Shin, Inyong; Kim, Hyunho

Publisher

Seinan Gakuin University; Asia University

Date 2008
Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic System
Industry and Technology < Manufacturing

Abstract

This paper examines the cubic form hypothesis and the flying geese pattern hypothesis of income distribution. We use time series data for the Gini coefficients of Korea for 1961-2006 and panel data calculated based on a household income survey for the period 1998-2003. We show; (1) The Korean economy has a cubic form inequality as shown in many advanced countries such as the U.S, U.K and Japan, and (2) Different relationships between income inequality and income level are observed among regions since less developed rural areas lagged behind more developed urban ones. Thus the pattern of the change of inequality by region in Korea has similarities to the flying geese pattern and the multiple catching up pattern that are processes of the industrialization of manufacturing.