FINANCIALIZATION AND INCOME INEQUALITY IN SELECTED EUROPEAN COUNTRIES, 2004-2013

Grzegorz Gołębiewski, Piotr Szczepankowski and Dorota Wiśniewska
Additional contact information
Grzegorz Gołębiewski: The University of Finance and Management in Warsaw
Piotr Szczepankowski: The University of Finance and Management in Warsaw
Dorota Wiśniewska: Poznań University of Economics

Financial Internet Quarterly, 2016, vol. 12, issue 4, 20-32

Abstract: The article examines the impact of financialization on income inequality between 2004 and 2013, through a panel analysis of seven European countries. Moreover, it attempts to examine differences in the perception of the phenomenon between the selected European countries belonging to the G-7 and countries from Central and Eastern Europe. The results demonstrate the existence of individual effects, which means that the level of inequality under examination is influenced predominantly by country-specific factors. The most significant correlation is noticeable between the level of unemployment and the degree of income inequality. An increase in unemployment is accompanied by a rise in the disproportions in the level of income that individual citizens have at their disposal whereas a decrease in the unemployment level contributes to an improvement of the GINI coefficient. Simultaneously, the results confirm the existence of significant correlations between the level of the GINI coefficient and such financialization indicators as the share of employment in finance in total employment and the contribution of the financial sector to total value added creation.

Keywords: financialization; inequality; the Gini coefficient; income distribution; Central and Eastern European countries (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://journals.wsiz.edu.pl/fiq/article/view/706 Abstract page (text/html)
https://journals.wsiz.edu.pl/fiq/article/download/706/667 Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsz:fiq000:v:12:y:2016:i:4:id:706

DOI: 10.1515/fiqf-2016-0005

Access Statistics for this article

More articles in Financial Internet Quarterly from University of Information Technology and Management in Rzeszów
Bibliographic data for series maintained by Wiesław Stręciwilk ().