Towards the reversal of poverty and income inequality setbacks due to COVID-19: the role of globalisation and resource allocation
This study contributes to the policy discourse aimed at addressing the welfare setbacks imposed implicitly by the coronavirus pandemic. To this end, we draw macrodata for the period 1990 - 2019 to examine whether globalisation and resource allocation matter for reducing poverty and income inequality...
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Published in | International review of applied economics Vol. 36; no. 5-6; pp. 647 - 674 |
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Main Authors | , , |
Format | Journal Article |
Language | English |
Published |
New York
Routledge
02.11.2022
Taylor & Francis Ltd |
Subjects | |
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Abstract | This study contributes to the policy discourse aimed at addressing the welfare setbacks imposed implicitly by the coronavirus pandemic. To this end, we draw macrodata for the period 1990 - 2019 to examine whether globalisation and resource allocation matter for reducing poverty and income inequality in the Middle East and North Africa (MENA). Robust evidence from the GMM estimator shows that: (1) economic globalisation reduces both poverty and income inequality, (2) though social globalisation heightens income inequality in the region, it has no significant effect on poverty; (3) compared to the effect on poverty, economic globalisation is remarkable in reducing income inequality in the presence of efficient resource allocation. Policy recommendations are provided in line with Agenda 2030 and the rise in social globalisation of the region. |
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AbstractList | This study contributes to the policy discourse aimed at addressing the welfare setbacks imposed implicitly by the coronavirus pandemic. To this end, we draw macrodata for the period 1990 – 2019 to examine whether globalisation and resource allocation matter for reducing poverty and income inequality in the Middle East and North Africa (MENA). Robust evidence from the GMM estimator shows that: (1) economic globalisation reduces both poverty and income inequality, (2) though social globalisation heightens income inequality in the region, it has no significant effect on poverty; (3) compared to the effect on poverty, economic globalisation is remarkable in reducing income inequality in the presence of efficient resource allocation. Policy recommendations are provided in line with Agenda 2030 and the rise in social globalisation of the region. |
Author | Asmah, Emmanuel E. Ofori, Isaac K. Armah, Mark K. |
Author_xml | – sequence: 1 givenname: Isaac K. orcidid: 0000-0002-0591-1271 surname: Ofori fullname: Ofori, Isaac K. email: ikofori@outlook.com organization: York University – sequence: 2 givenname: Mark K. orcidid: 0000-0001-7210-4413 surname: Armah fullname: Armah, Mark K. organization: School of Economics, University of Cape Coast – sequence: 3 givenname: Emmanuel E. surname: Asmah fullname: Asmah, Emmanuel E. organization: School of Economics, University of Cape Coast |
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CitedBy_id | crossref_primary_10_1007_s13563_024_00450_1 crossref_primary_10_1016_j_jik_2023_100442 crossref_primary_10_1080_23322039_2023_2170766 crossref_primary_10_1016_j_resglo_2022_100084 crossref_primary_10_1002_sd_2403 |
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SubjectTerms | COVID-19 Economic Integration Financial Deepening Globalisation Globalization GMM Income inequality Inequality MENA Pandemics Poverty Regions Resource allocation Setbacks Welfare |
Title | Towards the reversal of poverty and income inequality setbacks due to COVID-19: the role of globalisation and resource allocation |
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