How Development and Liberalisation of the Financial Sector is Related to Income Inequality: Some New Evidence
Jakob de Haan () and
Jan-Egbert Sturm ()
No 1633, BAFFI CAREFIN Working Papers from BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy
Bumann and Lensink (2016) suggest that the impact of financial liberalization on inequality is conditioned by financial development. Besides presenting a theoretical model that explains the underlying channels, they report empirical results in which capital account liberalisation (as a relatively narrow measure of financial liberalisation) only tends to lower income inequality if the level of financial depth is high enough.
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