Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/203214
Authors: 
Hasan, Iftekhar
Horváth, Roman
Mares, Jan
Year of Publication: 
2018
Series/Report no.: 
IES Working Paper 35/2018
Abstract: 
Using a global sample, this paper investigates the determinants of wealth inequality capturing various economic, financial, political, institutional, and geographical indicators. Using instrumental variable Bayesian model averaging, it reveals that only a handful of indicators robustly matter and finance plays a key role. It reports that while financial depth increases wealth inequality, efficiency and access to finance reduce inequality. In addition, redistribution and education are associated with lower inequality whereas wars and openness to international trade contribute to greater wealth inequality.
Subjects: 
Wealth inequality
finance
Bayesian model averaging
JEL: 
D31
E21
Document Type: 
Working Paper
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