Income inequality and oil resources : panel evidence from the United States

Show simple item record Berisha, Edmond Chisadza, Carolyn Clance, M.W. (Matthew) Gupta, Rangan 2022-03-11T08:03:36Z 2022-03-11T08:03:36Z 2021-12
dc.description.abstract The resource curse is sometimes associated with poor resource-rich countries. However, using panel evidence from the United States, we find that the resource curse is also prevalent in a wealthy resource-rich country. This study investigates the impact of oil resources on income inequality, with a particular focus on distinguishing between the effects from oil abundance (i.e. production) versus oil dependency (i.e. consumption). We observe contrasting non-monotonic outcomes from oil abundance in comparison to oil dependency. For oil abundance, states with low oil production will have less inequality if they increase oil production, and states with high oil production will have increased income inequality if they increase production. The opposite holds true for oil dependency. The findings suggest several channels of concern. For example, oil-rich states are more vulnerable to rent-seeking behaviour as oil production and oil revenues increase, which can adversely affect the income distribution gap. On the other hand, oil-dependent states are more likely to be affected by commodity price shocks which can increase income inequality. en_ZA
dc.description.department Economics en_ZA
dc.description.librarian hj2022 en_ZA
dc.description.uri en_ZA
dc.identifier.citation Berisha, E., Chisadza, C., Clance, M. & Gupta, R. 2021, 'Income inequality and oil resources : panel evidence from the United States', Energy Policy, vol. 159, art. 112603, pp. 1-12, doi : 10.1016/j.enpol.2021.112603. en_ZA
dc.identifier.issn 0301-4215 (print)
dc.identifier.issn 1873-6777 (online)
dc.identifier.other 10.1016/j.enpol.2021.112603
dc.language.iso en en_ZA
dc.publisher Elsevier en_ZA
dc.rights ©2021 Elsevier Ltd. All rights reserved. Notice : this is the author’s version of a work that was accepted for publication in Energy Policy. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. A definitive version was subsequently published in Energy Policy, vol. 159, art. 112603, pp. 1-12, 2021. doi : 10.1016/j.enpol.2021.112603. en_ZA
dc.subject Oil resources en_ZA
dc.subject Income inequality en_ZA
dc.subject United States (US) en_ZA
dc.title Income inequality and oil resources : panel evidence from the United States en_ZA
dc.type Preprint Article en_ZA

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