Finance and income inequality revisited

Yener Altunbaş, John Thornton

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26 Citations (Scopus)
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In a panel of 121 developed and developing economies, financial development promotes income equality in upper-middle income countries and inequality in low- and high-income countries. Finance impacts on income inequality through both the financial institutions and financial markets channels, though the impact of the financial institutions channel is relatively larger.
Original languageEnglish
Article number101355
JournalFinance Research Letters
Early online date11 Nov 2019
Publication statusPublished - Nov 2020


  • Income inequality
  • Financial development
  • Financial institutions
  • Financial markets
  • Panel regression

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