Factors Affecting the Growing Economic Inequality: An Empirical Study with Reference to BRICS Countries
- Title
- Factors Affecting the Growing Economic Inequality: An Empirical Study with Reference to BRICS Countries
- Creator
- Mathur M.; Jain V.
- Description
- Economic inequality refers to the uneven distribution ofearningsand opportunity between various groups in society and is a point of major concern in almost all the nations in the world. This study aims to analyse the effect of various factors over the increasing inequality in BRICS nations. The study takes into consideration factors like trade openness, credit, net foreign assets and health and tries to assess their impact as a driving force behind the increasing inequality in these countries. The augmented DickeyFuller test for stationarity has been applied followed by multiple regression. To explore causality, Granger causality test is applied. All the models are tested for autocorrelation using the BreuschGodfrey Lagrange Multiplier test. Wald test is applied to examine the significance of independent variables. The study provides statistical evidence about the positive and negative effects of trade openness, healthcare finance, net foreign assets and healthcare expenditure on income inequality in BRICS nations. Findings may help to work intensively on the relevant causes of inequality for these five countries. This paper will add to the already present literature on inequality which is one of the important problems of the countries across the world. 2022, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
- Source
- Springer Proceedings in Business and Economics, pp. 1-19.
- Date
- 2022-01-01
- Publisher
- Springer Science and Business Media B.V.
- Subject
- BRICS economies; Economic growth; Income distribution; Inequality
- Coverage
- Mathur M., Manipal University Jaipur, Jaipur, India; Jain V., Christ (Deemed University), Pune, Lavasa, India
- Rights
- Restricted Access
- Relation
- ISSN: 21987246; ISBN: 978-981167817-2
- Format
- Online
- Language
- English
- Type
- Conference paper
Collection
Citation
Mathur M.; Jain V., “Factors Affecting the Growing Economic Inequality: An Empirical Study with Reference to BRICS Countries,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 25, 2025, https://archives.christuniversity.in/items/show/20444.