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Availability of financial services and income inequality: The evidence from many countries

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  • Mookerjee, Rajen
  • Kalipioni, Paul
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    Abstract

    Using a sample of developed and developing countries this study empirically gauges the impact of the availability of financial services, as measured by the number of bank branches per 100,000 populations on income inequality. The results show that greater access to bank branches robustly reduces income inequality across countries. The study also documents that barriers to bank access significantly increases income inequality.

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    File URL: http://www.sciencedirect.com/science/article/B6W69-50KWG03-1/2/61ac1f0bda476b113c9e1f252c9e2b09
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    Bibliographic Info

    Article provided by Elsevier in its journal Emerging Markets Review.

    Volume (Year): 11 (2010)
    Issue (Month): 4 (December)
    Pages: 404-408

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    Handle: RePEc:eee:ememar:v:11:y:2010:i:4:p:404-408

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    Web page: http://www.elsevier.com/locate/inca/620356

    Related research

    Keywords: Financial services Macro-finance Income inequality Banking;

    References

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    1. Galor, Oded & Moav, Omer, 1999. "From Physical to Human Capital Accumulation: Inequality in the Process of Development," CEPR Discussion Papers 2307, C.E.P.R. Discussion Papers.
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    4. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2004. "Finance, inequality, and poverty: cross-country evidence," Policy Research Working Paper Series 3338, The World Bank.
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    6. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2006. "Banking services for everyone ? Barriers to bank access and use around the world," Policy Research Working Paper Series 4079, The World Bank.
    7. Greenwood, Jeremy & Jovanovic, Boyan, 1990. "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1076-1107, October.
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    9. Hryckiewicz, Aneta & Kowalewski, Oskar, 2010. "Economic determinates, financial crisis and entry modes of foreign banks into emerging markets," Emerging Markets Review, Elsevier, vol. 11(3), pages 205-228, September.
    10. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
    11. Claessens, Stijn & Perotti, Enrico, 2007. "Finance and inequality: Channels and evidence," Journal of Comparative Economics, Elsevier, vol. 35(4), pages 748-773, December.
    12. Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," NBER Working Papers 5879, National Bureau of Economic Research, Inc.
    13. Georg R. G. Clarke & Lixin Colin Xu & Heng-fu Zou, 2006. "Finance and Income Inequality: What Do the Data Tell Us?," Southern Economic Journal, Southern Economic Association, vol. 72(3), pages 578-596, January.
    14. Enrico Perotti & Paolo Volpin, 2007. "Investor Protection and Entry," Tinbergen Institute Discussion Papers 07-006/2, Tinbergen Institute.
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    16. B. Gabriela Mundaca, 2009. "Remittances, Financial Market Development, and Economic Growth: The Case of Latin America and the Caribbean," Review of Development Economics, Wiley Blackwell, vol. 13(2), pages 288-303, 05.
    17. Enrico Perotti & Paolo Volpin, 2007. "Investor Protection and Entry," Tinbergen Institute Discussion Papers 07-006/2, Tinbergen Institute.
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    Citations

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    Cited by:
    1. Claessens, Stijn & Yurtoglu, B. Burcin, 2013. "Corporate governance in emerging markets: A survey," Emerging Markets Review, Elsevier, vol. 15(C), pages 1-33.
    2. Wamboye, Evelyn & Mookerjee, Rajen, 2013. "Financial development and manufactured exports: the african experience," MPRA Paper 46474, University Library of Munich, Germany.
    3. Heshmati, Almas & Kim, Jungsuk, 2014. "A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth," IZA Discussion Papers 8119, Institute for the Study of Labor (IZA).

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