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EFFECT OF PUBLIC DEBT ON INCOME INEQUALITY IN ADVANCED ECONOMIES: DOES INSTITUTIONAL QUALITY MATTER?

100%

Nguyen V. B.

Ekonomický časopis (Journal of Economics)

2022

tom 70

nr 9-10

723 – 742

Global income inequality becomes one of the severe problems in most economies, while government spending financed by public debt can be a good instrument of fiscal policy to reduce this inequality in society. Does institutional quality affect the public debt – income inequality relationship in advanced economies? For the answer, the paper employs the system-GMM and PMG estimator to examine the effects of public debt, institutional quality, and their interaction on income inequality for a group of 30 advanced economies from 2002 through 2020. The paper finds some exciting results. Public debt and institutional quality narrow income inequality, but their interaction term widens. Furthermore, economic growth and unemployment increase income inequality, while education decreases it. The findings suggest some necessary policy implications to narrow income inequality through public debt and institutional quality.

CLUSTERS’ ACTIVITIES AND ECONOMY STAGE OF DEVELOPMENT: EVIDENCE FROM V4 AND ADVANCED ECONOMIES

100%

Pavelková D. , Bialic-Davendra M. , Jirciková E. , Homolka L.

Ekonomický časopis (Journal of Economics)

2013

tom 61

nr 2

187 – 205

This article examines the impact of maturity of economy on an activities’ focus of cluster organisations. For a basis of research concerning the focus of activities of clusters from advanced economies and clusters from the Visegrad Group countries (V4), the authors of this article obtained data from a large sample of clusters. This research has tested whether differences in clusters’ activities and their implementation in various advanced economies are not caused by different thinking and attitudes of clusters’ managers or the respective age of clusters. The research results confirmed that the selection and use of activities could be different according to the maturity of the economy, considering the same stage of the clusters life cycle and similar views of managers regarding the focus of activities that contribute to the successful development of clusters.