Stock market and inequality distributions – Evidence from the BRICS and G7 countries

Dong Quang Dang, Weiou Wu and Ioannis Korkos

International Review of Economics & Finance, 2024, vol. 92, issue C, 1172-1190

Abstract: By examining the effects of three stock market indicators (market accessibility, efficiency, and stability) on income and wealth inequality in the BRICS and G7 countries, this study enriches lacking literature on income and wealth inequality, particularly for the BRICS countries. We apply the Autoregressive Distributed Lag–Mixed Data Sampling (ADL-MIDAS) model. We find that only enhancements in market stability reduce income inequality in the BRICS and G7 countries. Additionally, we find that while expansions of market accessibility contribute to narrowing wealth inequality, improvements in market stability widen the wealth disparity in the BRICS countries. Limited effects of the stock market indicators on wealth distribution are observed in the G7 countries.

Keywords: Mixed data sampling; Income inequality; Wealth inequality; Stock market; Autoregressive distributed lag; BRICS; G7 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:92:y:2024:i:c:p:1172-1190

DOI: 10.1016/j.iref.2024.02.067

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