Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154213
Authors: 
Christopoulos, Dimitris
McAdam, Peter
Year of Publication: 
2015
Series/Report no.: 
ECB Working Paper 1780
Abstract: 
We explore the relationship between financial reforms and income inequality using a panel of 29 countries over 1975-2005. We extend panel unit root tests to allow for the presence of some financial-reform covariates and further suggest an associated but novel, semi-parametric approach. Results demonstrate that although both gross and net Gini indices follow a unit root process, this picture can change when financial reform indices are accounted for. In particular, whilst gross Gini coefficients are generally not stabilized by financial reforms, net measures are (more likely to be). Thus financial reforms enacted in the presence of a strong safety net would seem preferable.
Subjects: 
financial reform
fractional integration
Gini coefficient
Inequality
panel
unit root
JEL: 
C01
C12
D63
G15
ISBN: 
978-92-899-1593-9
Document Type: 
Working Paper

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