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He Effect of Financial Development on Income Distribution: The Case of Turkey

Author

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  • Filiz Köyel

    (Trabzon University)

  • Nebiye Yamak

    (Karadeni̇z Tekni̇k University)

Abstract

In this study, the asymmetric effect of financial development on income distribution in turkey is investigated in the short and long run for the period 1980-2022. As a result of two different models estimated for two different financial development indicators with the non-linear ardl method, it was found that financial development is a very important determinant in explaining income distribution. Moreover, the effect of financial development on income distribution is found to be asymmetric. It is thought that the asymmetric relationship may stem from the fact that as financial development is achieved, individuals in the low-income group are positively affected by this situation, while those in the high-income group are not affected much, whereas both income groups are affected by this situation when financial development enters a stagnation or regression stage with financial crises. These findings can guide the design of financial literacy and inclusive financial policies in turkey.

Suggested Citation

  • Filiz Köyel & Nebiye Yamak, 2025. "He Effect of Financial Development on Income Distribution: The Case of Turkey," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 40(124), pages 233-258, October.
    • Handle: RePEc:acc:malfin:v:40:y:2025:i:124:p:233-258
    DOI: https://doi.org/10.33203/mfy.1637559
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    Keywords

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    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N2 - Economic History - - Financial Markets and Institutions

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