Financial development, inequality, and poverty: Some international evidence
Ruixin Zhang and
Sami Ben Naceur ()
International Review of Economics & Finance, 2019, vol. 61, issue C, 1-16
This paper provides evidence for the relationship between financial development, income inequality, and poverty. Unlike the existing literature, which mainly studies the effects of financial deepening, this paper features a multidimensional investigation. We considered financial access, depth, efficiency, stability, and liberalization. This paper reports three major findings. First, four out of five dimensions of financial development (access, depth, efficiency, and stability) can significantly reduce inequality and poverty. Second, financial liberalizations tend to exacerbate inequality and poverty. Third, the development of the banking shows a more significant impact on income distribution than the development of the stock market.
Keywords: Financial development; Income inequality; Poverty (search for similar items in EconPapers)
JEL-codes: G10 G20 I30 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
Working Paper: Financial Development, Inequality and Poverty; Some International Evidence (2016)
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:eee:reveco:v:61:y:2019:i:c:p:1-16
Access Statistics for this article
International Review of Economics & Finance is currently edited by H. Beladi and C. Chen
More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Haili He ().