影響所得不均的重要因素：民主、教育、金融發展與其他

Abstract

本研究使用 120 個國家於 1972 年至 2019 年的資料來探討影響所得不均的重要因素，並選用標準化世界所得不均資料庫(Standardize World Income Inequality Database, SWIID)中的可支配所得吉尼係數作為被解釋變數。透過追蹤資料實證分析，我們發現民主程度、人力資本水準、金融發展程度、人均 GDP 成長率、失業率、通貨膨脹率和都市化程度是影響所得不均的重要因素。將國家依所得分群後，我們發現在高所得國家中，人力資本水準、金融發展程度、人均 GDP 成長率、失業率以及都市化程度的提升會擴大所得不均，民主程度與通貨膨脹率的提升則會改善所得不均。在中低所得國家中使得所得不均惡化的可能因素則為民主程度、金融發展程度、人均 GDP 成長率、失業率、外人直接投資以及都市化程度的提升，而人力資本水準上升可以使所得不均程度降低。我們認為，若政府期望能降低所得不均程度，可以實施降低失業率的相關政策如提供就業媒合或鼓勵企業增加僱員等，另外也須重視金融發展、經濟成長、都市化與所得均等間的權衡。除了上述的政策方向外，高所得國家政府也可以透過開放政治權利、提供低所得學生高等教育相關補助來改善所得不均問題，而中低所得國家則可以選擇推行中小學教育的相關政策。

Using data from 120 countries covering 1972 to 2019, we examine the important factors affecting income inequality. The Gini coefficient of disposable income from the Standardized World Income Inequality Database (SWIID) is used as the independent variable. By doing empirical analysis of the panel data, we find that the degree of democracy, human capital level, financial development, GDP per capita growth rate, unemployment rate, inflation rate and level of urbanization are important factors affecting income inequality. After grouping countries by their income level, we find that increasing in the level of human capital, financial development, GDP per capita growth rate, unemployment rate, and urbanization widen income inequality in high income countries, while increasing in the degree of democracy and inflation rate reduce income inequality. Among low and middle income countries, the increases in the degree of democracy, financial development, GDP per capita growth rate, unemployment, foreign direct investment and urbanization are likely to worsen income inequality, while higher levels of human capital can reduce income inequality. In our view, if governments want to reduce income inequality, they can implement policies to reduce unemployment, such as providing job matching or encouraging enterprises to increase employees, and they should also pay attention to the balance between financial development, economic growth, urbanization and income equality. In addition to the above-mentioned policy directions, governments of high-income countries can also improve income inequality by liberalizing political rights and providing subsidies for tertiary education for low-income students, while low and middle income countries can choose to implement policies related to primary and secondary education.