Economic Growth, Financial Development and Income Inequality

Donghyun Park ()

Working Papers from eSocialSciences

Abstract: The central objective of the paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. The finding is that financial development contributes to reducing inequality up to a point, but as financial development proceeds further, it contributes to greater inequality. It is found that when the ratio of primary schooling to total schooling increases and law and order improves, financial development becomes more effective in reducing inequality.

Keywords: inequality; law and order; economic growth; financial development; income inequality; primary schooling; growth; developed countries; income earners; gini coefficients; GDP; technology; disposable income; constant prices (search for similar items in EconPapers)
Date: 2015-08
Note: Institutional Papers
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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