Econometric Analysis of the Relationship Between Inequality of Income Distribution and Financial Development (2000-2019)

Esra Erik Akyol and Murat Akbalık
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Esra Erik Akyol: Kadir Has University
Murat Akbalık: Marmara University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2022, vol. 37, issue 118, 33-70

Abstract: This study aims to analyze the relationship between inequality and development for 10 selected developed countries. Panel Data Analysis method was used in analysis of the relationship. In the panel cointegration test; it has found that the series are cointegrated and they move together in the long run. In the panel, the ENF has found statistically significant in the positive direction of the GK, the YK_GSYH and PK_GSYH have found statistically significant in the decreasing direction of the GK. The test of Dumitrescu and Hurlin (2012), a bidirectional causality relationship was found between the independent variables and the Gini.

Keywords: Inequality of Income Distribution; Financial Development; Developed Countries; Panel Data Analysis (search for similar items in EconPapers)
JEL-codes: C33 D31 D33 D63 O15 O16 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:37:y:2022:i:118:p:33-70

DOI: 10.33203/mfy.1093965

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