Economic growth, income distribution, and financial system: an analysis based on financial social accounting matrices for the brazilian economy

Juliana Vieira, Gilberto Libânio and Débora Cardoso
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Juliana Vieira: BDMG
Gilberto Libânio: UFMG
Débora Cardoso: UFMG

No 664, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This study analyzes the relationship between income distribution, economic growth, and the financial system for the Brazilian economy from 2005 to 2017. Our main goal is to investigate the role of the financial sector in explaining economic growth and the distributive structure. In terms of methodology, this work is based on the social accounting model, via the estimation of social accounting multipliers. These were obtained from financial social accounting matrices for the years 2005, 2008 and 2017. Our results suggest that the financial sector has contributed to economic growth and agents’ income. However, it has also brought about negative effects on income distribution, due to the unequal access to financial products across income deciles – which highlights the importance of policies aimed at facilitating access to the financial sector by lower income individuals.

Keywords: income distribution; economic growth; financial system (search for similar items in EconPapers)
JEL-codes: N20 O11 O47 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2023-12
New Economics Papers: this item is included in nep-fdg and nep-hme
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