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

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Standard Standard

The long-run relationship between finance and income inequality: Evidence from panel data. / Thornton, John; Di Tommaso, Caterina.
In: Finance Research Letters, Vol. 32, 101180, 01.2020.

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

HarvardHarvard

Thornton, J & Di Tommaso, C 2020, 'The long-run relationship between finance and income inequality: Evidence from panel data', Finance Research Letters, vol. 32, 101180. https://doi.org/10.1016/j.frl.2019.04.036

APA

Thornton, J., & Di Tommaso, C. (2020). The long-run relationship between finance and income inequality: Evidence from panel data. Finance Research Letters, 32, Article 101180. https://doi.org/10.1016/j.frl.2019.04.036

CBE

Thornton J, Di Tommaso C. 2020. The long-run relationship between finance and income inequality: Evidence from panel data. Finance Research Letters. 32:Article 101180. https://doi.org/10.1016/j.frl.2019.04.036

MLA

Thornton, John and Caterina Di Tommaso. "The long-run relationship between finance and income inequality: Evidence from panel data". Finance Research Letters. 2020. 32. https://doi.org/10.1016/j.frl.2019.04.036

VancouverVancouver

Thornton J, Di Tommaso C. The long-run relationship between finance and income inequality: Evidence from panel data. Finance Research Letters. 2020 Jan;32:101180. Epub 2019 Apr 30. doi: 10.1016/j.frl.2019.04.036

Author

Thornton, John ; Di Tommaso, Caterina. / The long-run relationship between finance and income inequality: Evidence from panel data. In: Finance Research Letters. 2020 ; Vol. 32.

RIS

TY - JOUR

T1 - The long-run relationship between finance and income inequality: Evidence from panel data

AU - Thornton, John

AU - Di Tommaso, Caterina

PY - 2020/1

Y1 - 2020/1

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.

U2 - 10.1016/j.frl.2019.04.036

DO - 10.1016/j.frl.2019.04.036

M3 - Article

VL - 32

JO - Finance Research Letters

JF - Finance Research Letters

SN - 1544-6123

M1 - 101180

ER -