Does Income Inequality Move Together Across the World?

9 Pages Posted: 22 Nov 2022

See all articles by Joonhong Ahn

Joonhong Ahn

Korea Institute of Procurement

Ingul Baek

Kongju National University

Sanha Noh

Jeonbuk National University

Date Written: September 22, 2022


This study investigates the relative importance of synchronization of income inequality, measured by the Gini coefficient, using a dynamic factor model. This study finds that global factors are relatively stable, whereas regional factors have heterogeneous effects on income inequality fluctuations. Additionally, regional factors account more significantly for the future variance of income inequality than global factors, which is evidence of convergence within each continent.

Keywords: Income inequality, Dynamic factor model, Globalization, Comovement

JEL Classification: D63, F20, F62

Suggested Citation

Ahn, Joonhong and BAEK, INGUL and Noh, Sanha, Does Income Inequality Move Together Across the World? (September 22, 2022). Available at SSRN: or

Joonhong Ahn (Contact Author)

Korea Institute of Procurement ( email )

Korea, Republic of (South Korea)


Kongju National University ( email )

Korea, Republic of (South Korea)

Sanha Noh

Jeonbuk National University ( email )

567 Baekje-daero, Geumam 1(il)-dong
Korea, Republic of (South Korea)

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