Assessing the Impact of Income Inequality on Poverty Level in Nigeria Using Auto Regressive Distributed Lag Model | Chapter 7 | New Advances in Business, Management and Economics Vol. 3

There is widespread concern about global inequality and economic growth that the economic crisis has only widened the gap between the rich and the poor. Poverty and income inequality are two interrelated and mutually reinforcing developmental issues in Africa. This research employed the Auto Regressive Distributed Lag (ARDL) model to evaluate the influence of income inequality on the level of poverty in Nigeria. The secondary data from CBN (2011) and WDI (2022) was used in this study. The study's findings indicated a sustained positive correlation between poverty levels and the Gini coefficient of income inequality in Nigeria, derived from the relationship of each income determinant with the Gini coefficient of income disparity in the Nigerian economy. Therefore, it is advisable to improve the equitable distribution of resources, which will effectively diminish economic inequality and poverty in Nigeria. The government ought to focus on formulating and executing more pragmatic employment initiatives in Nigeria. The empirical findings of this study indicate that reducing income inequality in Nigeria by an increase in the employment rate has been inadequate. A pragmatic approach to employment would enable individuals to utilise their finances to accumulate wealth rather than merely subsist, hence enhancing the degree of the income distribution.

 

Author (s) Details

Sule Magaji
Department of Economics, University of Abuja, Nigeria.

 

Ibrahim Musa
Department of Economics, University of Abuja, Nigeria.

 

Yahaya Ismail
Department of Economics, University of Abuja, Nigeria.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v3/1480

Case Study of Income Inequality, Governance, and Economic Growth in EMCCA Countries | Chapter 9 | An Overview on Business, Management and Economics Research Vol. 2

 The aim concerning this study is to check the influence of governance and income prejudice on economic progress in the six member nations of the Economic and Monetary Community of Central Africa (EMCCA) that are while emerging. The weak performance of the sub-territorial economy all the while the last few years can be made clear in part by weak governance and unfair capital reallocation. Despite these nations' plentiful natural riches, it has existed proved that want is spreading swiftly. This has a better impact on country communities than on urbane places. The majority of theoretical and practical surveys conducted determine contentious outcomes about the friendship between prejudice and growth. The dynamic committee assessment results show that: (1) Income prejudice has a negative impact on economic progress in EMCCA countries, (2) the composite index of government has a positive impact on the tumor rate of the effective Gross Domestic Product (GDP) separately, and (3) the interaction between earnings disparity and government has a negative impact on economic progress.

Author(s) Details:

Joseph Djaowe,
Saint Jérôme Catholic University Institute of DOUALA and Organizational Economics and Management Research Laboratory (LAREGO)-University of Ngaoundéré, Cameroon.

Please see the link here: https://stm.bookpi.org/AOBMER-V2/article/view/11923

Income Inequality as a Main Social Challenge for the European Union | Chapter 4 | Current Strategies in Economics and Management Vol. 8

 The poverty rate and the preservation of cross-country social and economic inequality are a big social issue for the European Union and are likely to have significant economic repercussions for its society. In general, the current levels of poverty and social exclusion in the European Union are strong, considering that it is the continent with the largest share of the world's GDP. It is the duty of both the European Union and its Member States to take immediate economic recovery steps and to take emergency measures. Hey. Growth. Poverty reduction, which is also a major objective of the Europe 2020 plan, but which has not yet obtained the requisite results, should be the main objective. It has proven very difficult to achieve its goal of saving at least 20 million people from poverty and social exclusion by 2020, both in the short and the long term. This paper aims to explore one of the most important issues for the culture and economy of the European Union today: on the one hand, poverty and social exclusion and, on the other, income inequality. These two indicators are examined at the level of the EU and as discrepancies between EU Member States, as evidenced by a lack of social cohesion. The interdependence between economic development and poverty and social exclusion within the EU has been studied and proved to be negative. The interdependence between economic growth and income inequality (Gini coefficient) in the EU has been studied and has been shown to be positive. The key factors of income inequality in the EU are analysed in the second part of the paper. The national social policy and social model of the Member States, the current disparities in individual opportunities, the negative effects of economic globalisation, rapid technological change, the tendency to undermine the position of trade unions, etc. The chapter concludes with a brief overview of the possible problems facing the European Social Model.

Author (s) Details

Monika Moraliyska
University of National and World Economy, Bulgaria.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/345