Financial sector transformation and income inequality– an empirical analysis
Financial sector transformation and income inequality– an empirical analysis
Author(s): Hanna K. SzymborskaSubject(s): Financial Markets, Human Resources in Economy, Business Ethics
Published by: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Keywords: Financial Markets; Inequality; Fixed Effects Models;
Summary/Abstract: This paper examines the relationship between financial sector transformation and income inequality. We construct an econometric model of income concentration for a panel of 16 OECD countries in the years 1995-2009. From our study, financial sector transformation, measured individually by three indicators (GDP share of stock market value traded, bank income and private credit), emerges as a nexus of complex and interconnected phenomena, which are strongly associated with the concentration of income at the top of the distribution.
Journal: Financial Internet Quarterly
- Issue Year: 12/2016
- Issue No: 2
- Page Range: 36-48
- Page Count: 13
- Language: English
