REGIONAL DISPARITIES AND DUAL DYNAMICS: ECONOMIC GROWTH AND INCOME INEQUALITY IN KAZAKHSTAN
Temerbulatova Z. Mukhamediyev B. Zhidebekkyzy A. Bilan S.
2024Centre of Sociological Research
Economics and Sociology
2024#17Issue 2241 - 255 pp.
This study examines the complex relationships between economic growth and income inequality in different regions of Kazakhstan, revealing the nuances of their interaction. The article aims to assess the long-term and short-term effects of economic growth on income inequality in both forward and reverse directions across the regions of Kazakhstan. Employing region-specific time series data allowed us to examine the bidirectional impact of economic growth on inequality, using an error correction model (ECM) to describe short-run and long-run relationships. The results highlight that the relationship between economic growth and income inequality is heterogeneous across regions, reflecting each areas unique economic and social landscapes. The estimation results support the hypothesis of an inverted U-shaped Kuznets curve linking GRP per capita to inequality with varying starting points for different regions. Regarding the inverse relationship, we identified a positive causal relationship for the West Kazakhstan, Zhambyl and Pavlodar regions, indicating that increased income inequality stimulated economic growth. The study also highlights the significant role of trade, labour force, investment and government consumption in shaping these relationships.
economic growth , income inequality , Kuznets curve , region-specific model , regional analysis , time series analysis
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Al-Farabi Kazakh National University, Almaty, Kazakhstan
Széchenyi István University, Gyor, Hungary
Sumy State University, Sumy, Ukraine
Al-Farabi Kazakh National University
Széchenyi István University
Sumy State University
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