EconPapers    
Economics at your fingertips  
 

Finance and wealth inequality

Iftekhar Hasan (), Roman Horvath and Jan Mares

Journal of International Money and Finance, 2020, vol. 108, issue C

Abstract: Using a global sample, this paper investigates the determinants of wealth inequality capturing various economic, financial, political, institutional, and geographical indicators. Using instrumental variable Bayesian model averaging, it reveals that only a handful of indicators robustly matters and finance plays a key role. It reports that while financial depth increases wealth inequality, efficiency and access to finance reduce inequality. In addition, redistribution and education are associated with lower inequality whereas wars and openness to international trade contribute to greater wealth inequality.

Keywords: Wealth inequality; Finance; Bayesian model averaging (search for similar items in EconPapers)
JEL-codes: D31 E21 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0261560620300723
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Finance and Wealth Inequality (2018) Downloads
Working Paper: Finance and Wealth Inequality (2018) Downloads
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:eee:jimfin:v:108:y:2020:i:c:s0261560620300723

DOI: 10.1016/j.jimonfin.2020.102161

Access Statistics for this article

Journal of International Money and Finance is currently edited by J. R. Lothian

More articles in Journal of International Money and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2022-08-20
Handle: RePEc:eee:jimfin:v:108:y:2020:i:c:s0261560620300723