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Globalization, Financial Depth, and Inequality in Sub-Saharan Africa

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Author Info
Hisako KAI (Graduate School of International Cooperation Studies Kobe University)
Shigeyuki HAMORI () (Faculty of Economics Kobe University)

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Abstract

This paper examines the relationship between globalization, financial deepening, and inequality in sub-Saharan Africa between 1980 and 2002. We provide the first detailed econometric analysis in this regard covering the entire sub-Saharan African region; such an analysis has hardly been conducted owing to the lack of relevant data. We find that while globalization deteriorates inequality, its disequalizing effect depends on the level of development of the country. Further, this paper confirms that globalization deteriorates the equalizing effect of financial depth, although the latter helps to reduce inequality. We conclude that in sub-Saharan Africa, as a result of globalization, the rich have become richer and the poor have become poorer.

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File URL: http://www.econ.kobe-u.ac.jp/RePEc/koe/wpaper/2009/0912.pdf
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Publisher Info
Paper provided by Graduate School of Economics, Kobe University in its series Discussion Papers with number 0912.

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Length: 15pages
Date of creation: Aug 2009
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Handle: RePEc:koe:wpaper:0912

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Related research
Keywords: Globalization; Financial Depth; Inequality; Sub-Saharan Africa;

Find related papers by JEL classification:
F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Miguel Székely & Nancy Birdsall & Jere R. Behrman, 2000. "Economics Reform and Wage Differentials in Latin America," RES Working Papers 4235, Inter-American Development Bank, Research Department. [Downloadable!]
  2. Claessens, Stijn & Perotti, Enrico, 2007. "Finance and inequality: Channels and evidence," Journal of Comparative Economics, Elsevier, vol. 35(4), pages 748-773, December. [Downloadable!] (restricted)
  3. Adrian Wood, 2002. "Globalization and wage inequalities: A synthesis of three theories," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 138(1), pages 54-82, March. [Downloadable!] (restricted)
  4. Courakis, Anthony S, 1984. "Constraints on Bank Choices and Financial Repression in Less Developed Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 46(4), pages 341-70, November.
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This page was last updated on 2009-11-17.

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