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    Human Capital and Income Inequality

    Lee, Jong-Wha; Lee, Hanol | February 2018
    Abstract
    This study investigates empirically how human capital, measured by educational attainment, is related to income distribution. The regressions, using a panel data set covering a broad range of countries between 1980 and 2015, show that a more equal distribution of education contributes significantly to reducing income inequality. Educational expansion is a major factor in reducing educational inequality and thus income inequality. Public policies that improve social benefits and price stability contribute to reducing income inequality, while public spending on education helps to reduce educational inequality. In contrast, higher per capita income, greater openness to international trade, and faster technological progress tend to make both income and education distribution more unequal. Using the calibration of empirical results, we find that we can attribute the rising income inequality within East Asian economies in recent decades to the unequalizing effects of fast income growth and rapid progress in globalization and technological change, which have surpassed the income-equalizing effects from improved equality in the distribution of educational attainment during the period.
    Citation
    Lee, Jong-Wha; Lee, Hanol. 2018. Human Capital and Income Inequality. © Asian Development Bank Institute. http://hdl.handle.net/11540/7909.
    Keywords
    Income Distribution
    Demographic Indicators
    Social Justice
    Price stabilization
    Food prices
    Price policy
    Development Indicators
    Environmental Indicators
    Economic Indicators
    Educational Indicators
    Demographic Indicators
    Health Indicators
    Disadvantaged Groups
    Low Income Groups
    Socially Disadvantaged Children
    Poverty Analysis
    Participatory Poverty Assessment
    Poverty Reduction Strategy
    Extreme Poverty
    Economic development
    Growth And Poverty
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Social change
    Social accounting
    Inequality of income
    Economic growth
    Qualilty of Life
    Open price system
    Price fixing
    Price regulation
    Consumer price indexes
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    Citable URI
    http://hdl.handle.net/11540/7909
    Metadata
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    adbi-wp810.pdf (816.4Kb)
    Author
    Lee, Jong-Wha
    Lee, Hanol
    Theme
    Poverty
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise