The Role of Institutions in the Finance-Inequality Nexus in Sub-Saharan Africa
Ngozi Adeleye (),
Evans Osabuohien () and
Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, 2017, vol. 137, issue 1-2, 173-192
This study contributes to the literature on income inequality by providing evidence that financial development not only impacts income distribution, but the effects can improve when there is a strong institutional framework. Using the system-generalised method of moments (sys-GMM) technique on a sample of 42 Sub-Saharan African (SSA) countries from 1996 to 2015, our major findings are summarised as follows: (1) inequality is persistent in the region (2) financial development does not significantly reduce income inequality; and (3) the control of corruption and its interaction with domestic credit exhibit an inverted-U relation with income inequality. Thus, policies that will reduce income inequality require that corruption be controlled given increase in domestic credit.
JEL-codes: F36 G21 O15 (search for similar items in EconPapers)
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