The Relationship Between Financial Development And Income Inequality: Hidden Panel Cointegration Test

Mustafa Çalışır and Nurullah Altıntaş
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Mustafa Çalışır: Sakarya University
Nurullah Altıntaş: Sakarya University

International Journal of Applied Economic and Finance Studies, 2017, vol. 2, issue 2, 9-18

Abstract: The importance of the development and depth of financial system in achieving fairness in income distribution is increasing as the shares of financial systems in state economies continue to increase. The purpose of this study is to investigate the relationship between financial development and income inequality for the period of 2000-2012 in terms of financial structures using panel data analysis on three different groups of countries. According to the findings, there is a hidden cointegration between financial development and income inequality in all three countries of different financial structures. Consequently, it is shown that development of financial systems has an importance in policies for achieving fairness of income distribution.

Keywords: Financial development; income inequality (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bau:ijaefs:v:2:y:2017:i:2:id:103

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