On the relationship between fiscal consolidation (austerity) and income inequality. Novel empirical evidence.

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dc.contributor.advisorAlexiou, Constantinos
dc.contributor.advisorNellis, Joe
dc.contributor.authorOkeke, Angela Ifunanya
dc.date.accessioned2024-05-16T10:03:39Z
dc.date.available2024-05-16T10:03:39Z
dc.date.issued2023-02
dc.descriptionNellis, Joe - Associate Supervisoren_UK
dc.description.abstractEquity concerns regarding increases and persistence of adverse distributional outcomes tend to rear up during instances of austerity consideration since increasing inequality levels tend to have material significances on a people’s way of life as well as a nation’s economic growth by disproportionately affecting economic opportunities for the lower and median incomes. Motivated by the lack of empirical clarity and conflicting evidence in the extant austerity-inequality nexus literature this thesis enriches our understanding of the effect of fiscal consolidation programmes on output and income inequality. More specifically, by engaging in a systematic literature review, this study explores the relationship between austerity and income inequality. Furthermore, by employing different empirical model specifications1 for a panel of 16 OECD countries for the period 1980 to 2019, this research work explores the dynamic distributional effects of fiscal consolidation programmes as well the role of public debt in determining distributional outcomes during austerity implementation. The novel evidence obtained suggests that: adverse distributional effects persist for 15 years following adjustment implementation through both revenue and expenditure channels; furthermore – point estimates for the Bottom 40% of the income distribution are higher by the 15th year than previous peak periods; distributional impacts arising from influences of public debt levels are amplified during instances of fiscal adjustment with adverse distributional effects on average, manifesting from medium debt levels.en_UK
dc.description.coursenamePhD in Economics and Financeen_UK
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/21631
dc.language.isoen_UKen_UK
dc.publisherCranfield Universityen_UK
dc.publisher.departmentSOMen_UK
dc.rights© Cranfield University, 2023. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright holder.en_UK
dc.subjectIncome inequalityen_UK
dc.subjectdisparityen_UK
dc.subjectdistributionen_UK
dc.subjectausterityen_UK
dc.subjectfiscal adjustmenten_UK
dc.subjectfiscal retrenchmenten_UK
dc.subjectfiscal consolidationen_UK
dc.subjectdynamic effectsen_UK
dc.subjectpublic debten_UK
dc.subjectdebt levelsen_UK
dc.subjectdebt thresholden_UK
dc.subjectginien_UK
dc.subjectlabour income shareen_UK
dc.subjecttop income shareen_UK
dc.titleOn the relationship between fiscal consolidation (austerity) and income inequality. Novel empirical evidence.en_UK
dc.typeThesis or dissertationen_UK
dc.type.qualificationlevelDoctoralen_UK
dc.type.qualificationnamePhDen_UK

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