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17. Empirical Assessment of Business Competitiveness and Income Distribution: A Case of Selected Lower-Middle-Income Economies.

Author

Saeed, Muhammad Ibrahim and Sarwar, Saima

Subjects
EMPIRICAL research, QUADRATIC equations, QUANTILE regression, BUSINESS development, PUBLIC spending
Abstract

The current study attempts to quantify the quadratic nexus between income distribution and business competitiveness. It also adds the interaction term of development expenditure with business competitiveness to examine their impact on income inequality. Yearly panel data from 2008 to 2018 for 27 lower-middle-income economies was used. The analysis was based on Quantile Regression for Panel Data (QRPD). The findings revealed a Ushaped pattern between business competitiveness and income inequality. Further, an insignificant negative impact of development expenditure on income inequality was observed. However, if lower-middle-income economies take into account development expenditure with business competitiveness, then their impact on income inequality becomes significant with the same sign. The variable 'urban population' is significant and decreases income inequality, while broad money, trade, and rule of law have a significant role in increasing income inequality. The study suggests that development expenditure and business competitiveness may increase simultaneously for a more equal distribution of income. Moreover, the standardization of the rule of law in lower-middle-income economies is also very important for an equal distribution of income. [ABSTRACT FROM AUTHOR]

Published
2023

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