Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/128563
Authors: 
Park, Donghyun
Shin, Kwanho
Year of Publication: 
2015
Series/Report no.: 
ADB Economics Working Paper Series 441
Abstract: 
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes to reducing inequality up to a point, but as financial development proceeds further, it contributes to greater inequality. We also find that when the ratio of primary schooling to total schooling increases and law and order improves, financial development becomes more effective in reducing inequality.
Subjects: 
financial development
growth
income inequality
JEL: 
D63
G01
O11
O40
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo/
Document Type: 
Working Paper

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