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Financial development and income inequality

Author

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  • Weychert Ewa

    (Faculty of Economic Sciences, University of Warsaw, Warszawa, Poland)

Abstract

This paper analyses the influence of financial development on income inequality. Throughout this work, one may find the overview of theoretical and empirical literature as well as the empirical model using fixed panel data method. This research paper tries to disentangle the opposing views on the relationship between finance and income distribution, by evaluating the impact of the different dimensions of financial development on the level of income inequality. The important added value of this research is the usage of quintiles of income distribution as a dependent variable that may help to recognise the effect of financial development on the poorest and richest. Another novelty of the paper is the consideration of the effects of financial variables on Gini coefficient in the long and short run. The main results of the analysis using dataset from 2003 to 2014 indicate that financial access decreases income inequality.

Suggested Citation

  • Weychert Ewa, 2020. "Financial development and income inequality," Central European Economic Journal, Sciendo, vol. 7(54), pages 84-100, January.
    • Handle: RePEc:vrs:ceuecj:v:7:y:2020:i:54:p:84-100:n:5
    DOI: 10.2478/ceej-2020-0006
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    Cited by:

    1. Samuel Orekoya & Oluwatoyin Akintunde, 2023. "Financial Inclusion as a Panacea for Income Inequality in Nigeria," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 15(2), pages 169-180, December.

    More about this item

    Keywords

    income inequality; financial development; access to finance; financial depth; financial stability; efficiency of financial sector;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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