Finance and income inequality revisited

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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.

Keywords

  • Income inequality, Financial development, Financial institutions, Financial markets
Original languageEnglish
Article number101355
JournalFinance Research Letters
Volume37
Early online date11 Nov 2019
DOIs
Publication statusPublished - Nov 2020

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