The impact of finance on income inequality: a threshold analysis

John Thornton; Chrysoivalantis Vasilakis

Economics and Business Letters, 2024, vol. 13, issue 2, 104-111

Abstract: We identify the optimal level of financial development for income inequality in a panel of countries employing a non-linear panel Generalized Method of Moments approach. The impact of financial development is statistically significant above and below the optimal level, but its impact on income inequality is not asymmetric, with the costs of financial ‘under-development’ being greater than those for ‘over-development’.

Date: 2024
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