A Path to Equality on Wealth Distribution: Basis for Philippines Policy Reforms
Abstract
This study examined the wealth distribution parameters towards equality. The NetLogo Wealth Distribution Model was used to determine the Gini Coefficient based on the interactions of the parameters such as population, perception in life, lifestyle, minimum life expectancy, maximum life expectancy, income opportunities, skills, and labor market. Various simulations were conducted to identify the numerical values of the parameters leading to the desired state of wealth distribution. The result showed that among the parameters used, population has the highest impact in achieving an ideal state of equality. The increase in population will affect the result of the Gini coefficient, which tends to deviate from the perfect equality curve. Based on the Gini index of the Philippines, it revealed that wealth distribution in the country is significantly unequal, influenced by growing population and poor policy implementation. This research could serve as a basis for policy reforms which would lead to the country's economic growth and stability.
Keywords:
Wealth, distribution of wealth, inequality, population, policy
References
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Tisue, S., & Wilensky, U. (2004). NetLogo: A simple environment for modelling complexity. Boston: International Conference on Complex Systems.
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Birdsall, N., & Sinding, S. W. (2001). Population matters: Demographic change, economic growth, and poverty in the developing world. Retrieved from http://www.popline.org/node/255782/
Clowes, B. (2016). Exposing the global population control agenda. Retrieved from https://www.hli.org/resources/exposing-the-global-population-control/
Credit Suisse. (2014). PH wealth gap seen narrowing, Retrieved from http://tucp.org.ph/2014/10/ph-wealth-gap-seen-narrowing/
Davis, J. , & Shorrocks, A. (n.d.). The distribution of wealth. Retrieved from Darp.lse.ac.uk/papersdb/davies-shorrocks_(handbook_income_distribution_00).pdf
Dee, C. (2015, July 20). The economic disparity in the Philippines: The rich gets richer, the poor gets poorer. Philippines Canadian Inquirer. Retrieved from www.canadianinquirer.net/2015/07/20/the-economic-disparity-in-the-philippines-the-rich-gets-richer-the-poor-gets-poorer/
Genilo, E. M. (2014). The Catholic Church and the reproductive health bill debate: The Philippine experience. The Heythrop Journal, HeyJ LV, pp.1044-1055.
Norris, Kochhar, Ricka, Suphaphiphat, & Tsounta. (2015). Causes and consequences of income inequality: A global perspective. IMF Discussion Note. Retrieved from https://www.imf.org/external/pubs/ft/sdn/2015/sdn1513.pdf
Impullitti, G., & Rebmann, C. (2002). An agent-based model of wealth distribution. CEPA Working Paper 2002, 15.
Luebker, M. (2010). Inequality, income shares and poverty: The practical meaning of Gini coefficients. International Labour Organization Travail Policy, 3. ISBN 978-92-2-123671-9, Geneva.
Miller, K. (2012). Enough money to live to 100. Agency Sales, 42(5), 56-57. Retrieved from https://search.proquest.com/docview/ 1023387059?accountid=139409
Morissette, R., & Zhang, X. (2007). Revisiting wealth inequality. Perspectives on Labour and Income, 19(1), 6-9,11,13-17. Retrieved from https://search.proquest.com/docview /213987690?accountid=139409
Ostry, J. D., Berg, A., & Tsangarides, C. G., (2014). Redistribution, inequality, and growth, international monetary staff discussion note. International Monetary Fund, 2, 1-30.
Pantig, I. (2012).Population policy and economic growth: The case of Thailand and the Philippines case study. International Political Economy. Retrieved from www.pp.u-tokyo.ac.jp/graspp-old/courses/2012/documents/5140143_3b.pdf
Sethy, S. K., & Sahoo, H. (2015). Investigating the relationship between population and economic growth: An analytical study in India. Indian Journal of Economics and Business, 14 (2). Retrieved from https://search.proquest.com/docview /1704060825?accountid=139409
Tan, C., (2009). Till debt do us part. Philippines, CSM Publishing. The World Bank: World development indicators: Distribution of income. Retrieved from http://wdi.worldbank.org/table/2.9
Tisue, S., & Wilensky, U. (2004). NetLogo: A simple environment for modelling complexity. Boston: International Conference on Complex Systems.
Vandemoortele, J. (2011). The MDG story:ntention Denied, Development and Change Forum 2010 & 2011, 42, (1), 1-21.
Villegas, S. (2014, April 8). CBCP statement on the RH law. CBCP News. Retrieved from www.cbcpnews.com/cbcpnews/?p=33728
Winship, S. (2013). Overstating the costs of inequality. National Affairs 15 (Spring), 33-49.
World Bank Group. (2014). World development indicators 2014. Retrieved from https://openknowledge.worldbank.org/bitstream/handle/10986/18237/9781464801631.pdf
