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Sources of income polarization in Korea : Globalization and technological innovation
| Title |
Sources of income polarization in Korea
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|---|---|
| Sub Title | Globalization and technological innovation |
| Material Type | Article |
| Author(English) |
Shin, Taeyoung |
| Publisher |
[Sejong, South Korea] : Science and Technology Policy Institute |
| Date | 2016-10 |
| Journal Title; Vol./Issue | STI Policy Review:vol. 7(no. 2) |
| Pages | 15 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Documents |
| Original Format | |
| Subject | Economy < Economic Administration Industry and Technology < Science/Technology |
| Holding | Science and Technology Policy Institute |
| License |  |
Abstract
This study provides empirical evidences for the relationship between income inequality and economic growth, and relationship of income inequality with some of explanatory variables such as technological in¬novation, trade globalization, financial globalization and fiscal policy. We find out that income inequality has an adverse effect on economic growth, showing its dynamic features, for which we employed the polynomial distributed lags (PDL) model. The effect of income inequality on economic growth lasts over 9 years, and its dynamic effect peaks after 4 years. In addition, we also attempted to find out empirical evidences of sources of income inequality. The results show that income inequality is positively related to technological innova-tion, financial globalization, and fiscal policy; negatively related to the trade globalization. Many studies employ cross-country data, but it could have serious problems in collecting statistical data. Korean data is used over the time period of 1990-2015 in this study.
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