The Relationship Between Financial Development and Income Inequality: Data from Bulgaria

Hristo Mavrov ()

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2017, issue 2, 5-12

Abstract: There is a global consensus that income inequality is the most important trend to impact the development over the next decade. Financial development is among the factors that determine income inequality. In this article, the private credit by deposit money to GDP indicator (%) is used as a measure of financial development. The simple regression model used shows that in Bulgaria for the period 1990-2014 the financial development with a certain probability has raised the income inequality. To the extent that Bulgaria is a country with insufficiently developed financial system, this conclusion does not reject the possibility of nonlinearity of the financial development/income inequality relationship.

Keywords: financial development; private credit; income inequality (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2017
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