Abstract
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 language | English |
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Article number | 101355 |
Journal | Finance Research Letters |
Volume | 37 |
Early online date | 11 Nov 2019 |
DOIs | |
Publication status | Published - Nov 2020 |
Keywords
- Income inequality
- Financial development
- Financial institutions
- Financial markets
- Panel regression