The determinants of income inequality in Thailand: A synthetic cohort analysis |
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| Institution: | 1. School of Economics, University of the Thai Chamber of Commerce, 126/1 Vibhavadee-Rangsit Road, Dindaeng, Bangkok 10400, Thailand;2. Department of Economics, Institute of Behavioral Science, University of Colorado at Boulder, 256 UCB, Boulder, CO 80309-0256, USA;3. Program on International Affairs, University of Colorado at Boulder, 256 UCB, Boulder, CO 80309-0256, USA;1. Department of Economics, School of Oriental and African Studies, University of London, Thornhaugh Street, Russell Square, London WC1H 0XG, UK;2. Financial Market Department, People''s Bank of China, 32 Chengfang Street, West District, Beijing 100800, PR China;3. Research Institute of Finance and Banking, People''s Bank of China, 32 Chengfang Street, West District, Beijing 100800, PR China;1. Department of Applied Economics, HEC Montreal, Canada;2. Faculty of Economics, Thammasat University, Thailand;1. EGADE Business School, Tecnológico de Monterrey, Ave. Rufino Tamayo, Garza García, NL CP. 66269, Mexico;2. Department of Economics, Tecnológico de Monterrey, Campus Monterrey, Ave. Garza Sada 2501, Monterrey, NL CP. 64849, Mexico;3. Department of Economics and Finance, University of Texas Rio Grande Valley, 1201 W. University Dr., Edinburg, TX 78539-2999, USA |
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| Abstract: | This paper presents tests and estimates of the human capital model of income inequality using synthetic cohort data for Thailand: 1992–2011. The model focuses on four primary determinants of income inequality: mean per capita income levels, the variances in years of education, in the number of children, and in the number of earners in the household. All of these factors are important sources of income inequality in Thailand, with relative impacts that differ across demographic groups and types of household structure. An inverted-U relation between mean per capita income levels and inequality is found, reflecting gender differences of the head of household, differences in household composition, and variation in access to finance. Although the human capital model emphasizes education, estimates presented here show other household characteristics, such as number of children and number of earners, can be even more important sources of inequality. |
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| Keywords: | Human capital Inequality Synthetic cohort Thailand |
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