Impacts of Overall Financial Development, Access and Depth on Income Inequality
نویسندگان
چکیده
There is dense literature on the relationship between financial sector development (FSD) and income inequality. However, most of these studies employ a depth measure FSD. This study argues that different components FSD have heterogenous impact first empirically tests overall Thereafter, I investigate both linear nonlinear dimensions (depth access) The study’s novelty lies in using access data such as ATM per adult index comparing their inequality versus (growth domestic credit) Adding to this, fewer investigated To solve endogenous problem, uses system General Method Moments (GMM) panel 120 countries, from 2004 2019. findings are threefold. Firstly, finds index, individual institutions, market all narrow Secondly, this impacts inequality, where increased services reduces models. While narrows model, model reveals Too Much Finance hypothesis holds, results confirm U-shaped relation with These important for policy decisions concerning reforms distribution. imply can be shaped reduce by increasing credit through provisions.
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ژورنال
عنوان ژورنال: Economies
سال: 2022
ISSN: ['2227-7099']
DOI: https://doi.org/10.3390/economies10050118