Convergence and Inclusiveness Aspects of Various Socio-economic Indicators in Different Income Groups Across the World

Abstract

The chapter focuses on the roles of different socio-economic indicators in explaining the convergence or inclusiveness of income across different income groups in the world. Econometric, statistical and mathematical tools have been used as methodology. As major results, overall greater role of socioeconomic factors of social sustainability (SS) than economic sustainability (ES), have been found. This have caused greater income inequality among these various income groups of the world, with income diverging among various groups of countries, mainly, within Principal Country Groups II, together with slight sign of income convergence among the rest Principal Country Groups I and III respectively. However, greater predominance of inclusiveness aspect of socio-economic factors of ES, is also found among the Groups I and III respectively, together with their significant roles in raising CHI. This may have led to the possibility of slight income convergence within these groups.

Citation

Banerjee, A., Banerjee, S. and Mukherjee, P. (2023), "Convergence and Inclusiveness Aspects of Various Socio-economic Indicators in Different Income Groups Across the World", Das, R.C. (Ed.) Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights, Emerald Publishing Limited, Leeds, pp. 45-57. https://doi.org/10.1108/978-1-80455-554-520231004