Macroprudential policies and income inequality in former transition economies

Panagiotis Konstantinou, Anastasios Rizos and Artemis Stratopoulou ()
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Artemis Stratopoulou: Athens University of Economics and Business

Economic Change and Restructuring, 2022, vol. 55, issue 2, No 17, 1005-1062

Abstract: Abstract We study the effects of the adoption of macroprudential policies on income inequality in former transition economies over the period 2002–2014. In general, this adoption leads to rising income inequality; however, the effect depends on the degree of domestic financial development and globalization: for low levels of openness and financial development, they increase inequality. Instead, some macroprudential measures may result in lower income inequality, provided the adopting economy is sufficiently open and has a developed/unrestricted financial system. Our results suggest that reduction in income inequality can be promoted together with financial stabilization and the avoidance of systemic risks.

Keywords: Former transition economies; Macroprudential policies; Income inequality; Financial development; Globalization (search for similar items in EconPapers)
JEL-codes: D63 G28 P20 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10644-021-09333-9

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