The long-run relationship between finance and income inequality: Evidence from panel data

John Thornton; Caterina Di Tommaso

doi:10.1016/j.frl.2019.04.036

The long-run relationship between finance and income inequality: Evidence from panel data

John Thornton
, Caterina Di Tommaso

Ysgol Busnes Albert Gubay

University of Bari Aldo Moro
Office of Technical Assistance, US Department of the Treasury

Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

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We use heterogeneous panel cointegration techniques to examine the long-run effect of financial development on income inequality in a panel of 119 countries from 1980 to 2015. We include real GDP per capita in the cointegration relation and explicitly deal with cross-sectional de- pendence in the data that arises due to unobserved common factors. On average, financial de- velopment reduces income inequality in the long-run, with the result robust to different measures of finance and across country income groups.

Iaith wreiddiol	Saesneg
Rhif yr erthygl	101180
Cyfnodolyn	Finance Research Letters
Cyfrol	32
Dyddiad ar-lein cynnar	30 Ebr 2019
Dynodwyr Gwrthrych Digidol (DOIs)	https://doi.org/10.1016/j.frl.2019.04.036
Statws	Cyhoeddwyd - Ion 2020

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10.1016/j.frl.2019.04.036

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title = "The long-run relationship between finance and income inequality: Evidence from panel data",

abstract = "We use heterogeneous panel cointegration techniques to examine the long-run effect of financial development on income inequality in a panel of 119 countries from 1980 to 2015. We include real GDP per capita in the cointegration relation and explicitly deal with cross-sectional de- pendence in the data that arises due to unobserved common factors. On average, financial de- velopment reduces income inequality in the long-run, with the result robust to different measures of finance and across country income groups.",

author = "John Thornton and \{Di Tommaso\}, Caterina",

year = "2020",

month = jan,

doi = "10.1016/j.frl.2019.04.036",

language = "English",

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journal = "Finance Research Letters",

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AU - Thornton, John

AU - Di Tommaso, Caterina

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N2 - We use heterogeneous panel cointegration techniques to examine the long-run effect of financial development on income inequality in a panel of 119 countries from 1980 to 2015. We include real GDP per capita in the cointegration relation and explicitly deal with cross-sectional de- pendence in the data that arises due to unobserved common factors. On average, financial de- velopment reduces income inequality in the long-run, with the result robust to different measures of finance and across country income groups.

AB - We use heterogeneous panel cointegration techniques to examine the long-run effect of financial development on income inequality in a panel of 119 countries from 1980 to 2015. We include real GDP per capita in the cointegration relation and explicitly deal with cross-sectional de- pendence in the data that arises due to unobserved common factors. On average, financial de- velopment reduces income inequality in the long-run, with the result robust to different measures of finance and across country income groups.

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DO - 10.1016/j.frl.2019.04.036

M3 - Article

SN - 1544-6123

VL - 32

JO - Finance Research Letters

JF - Finance Research Letters

M1 - 101180

ER -

The long-run relationship between finance and income inequality: Evidence from panel data

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Mynediad at Ddogfen

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