Financiarisation et creusement des inégalités
Boris Cournède () and
Revue d'économie financière, 2017, vol. N° 128, issue 4, 153-164
Financial sectors have massively expanded in advanced economies over the past fifty years, a period that has also been characterised by rising income inequality in most OECD countries. These two developments are not just simultaneous but linked. Econometric enquiries suggest that the overaccumulation of debt and the expansion of stock markets have contributed to increases in inequality. Analysis of micro-level pay data uncovers that this effect stems in part from the compensation premium that financial workers enjoy over their peers with similar profiles in other sectors. This analysis also shows that, in finance as elsewhere, men get higher pay than women with similar profiles. There are ways of economic reforms to tackle these challenges, so that the financial sector contributes to a more inclusive path for economic growth. Classification JEL: D14, D63, E51, G2, J16, J31.
JEL-codes: D14 D63 E51 G2 J16 J31 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cai:refaef:ecofi_128_0153
Access Statistics for this article
More articles in Revue d'économie financière from Association d'économie financière
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().