Financial globalization and wage inequality

Jiancai Pi, Kaiqi Zhang and Xiangyu Huang

Scottish Journal of Political Economy, 2023, vol. 70, issue 2, 144-157

Abstract: This paper analyzes how financial globalization affects skilled‐unskilled wage inequality. We treat financial globalization as more regions being integrated into the global financial market. We find that a higher degree of financial globalization will decrease skilled‐unskilled wage inequality if it induces a small increase in the capital tax rate. However, a higher degree of financial globalization will increase skilled‐unskilled wage inequality if it induces a big increase in the capital tax rate.

Date: 2023
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https://doi.org/10.1111/sjpe.12333

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Persistent link: https://EconPapers.repec.org/RePEc:bla:scotjp:v:70:y:2023:i:2:p:144-157

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