Finance and income inequality revisited

Yener Altunbas; John Thornton

doi:10.1016/j.frl.2019.101355

Finance and income inequality revisited

The Albert Gubay Business School

Research output: Contribution to journal › Article › peer-review

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Abstract

In a panel of 121 developed and developing economies, financial development promotes income equality in upper-middle income countries and inequality in low- and high-income countries. Finance impacts on income inequality through both the financial institutions and financial markets channels, though the impact of the financial institutions channel is relatively larger.

Original language	English
Article number	101355
Journal	Finance Research Letters
Volume	37
Early online date	11 Nov 2019
DOIs	https://doi.org/10.1016/j.frl.2019.101355
Publication status	Published - Nov 2020

Keywords

Income inequality
Financial development
Financial institutions
Financial markets

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.frl.2019.101355

2019 Finance and income inequality revisitedAccepted author manuscript, 445 KBLicence: CC BY-NC-ND

Cite this

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title = "Finance and income inequality revisited",

abstract = "In a panel of 121 developed and developing economies, financial development promotes income equality in upper-middle income countries and inequality in low- and high-income countries. Finance impacts on income inequality through both the financial institutions and financial markets channels, though the impact of the financial institutions channel is relatively larger. ",

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KW - Financial development

KW - Financial institutions

KW - Financial markets

U2 - 10.1016/j.frl.2019.101355

DO - 10.1016/j.frl.2019.101355

M3 - Article

SN - 1544-6123

VL - 37

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ER -

Finance and income inequality revisited

Abstract

Keywords

UN SDGs

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