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Financial development and income inequality: a nonlinear econometric analysis of 21 African countries, 1994-2015

Author

Listed:
  • Lindokuhle T. Zungu
  • Lorraine Greyling

Abstract

A panel data analysis of financial inequality was conducted using the PSTR model to determine the threshold level at which excessive financial development worsens inequality. The results reveal evidence of a nonlinear effect between financial development and income inequality where the optimal level of financial development is found to be 19% as a share of […]

Suggested Citation

  • Lindokuhle T. Zungu & Lorraine Greyling, 2021. "Financial development and income inequality: a nonlinear econometric analysis of 21 African countries, 1994-2015," Working Papers 853, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:853
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_853.pdf
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    Cited by:

    1. Bolarinwa, Segun Thompson & Akinlo, Anthony Enisan, 2021. "Is there a nonlinear relationship between financial development and income inequality in Africa? Evidence from dynamic panel threshold," The Journal of Economic Asymmetries, Elsevier, vol. 24(C).

    More about this item

    Keywords

    Africa; Education; Group Behavior;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • N17 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Africa; Oceania
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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