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Econometric Analysis of the Relationship Between Inequality of Income Distribution and Financial Development (2000-2019)

Author

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  • Esra Erik Akyol

    (Kadir Has University)

  • Murat Akbalık

    (Marmara University)

Abstract

This study aims to analyze the relationship between inequality and development for 10 selected developed countries. Panel Data Analysis method was used in analysis of the relationship. In the panel cointegration test; it has found that the series are cointegrated and they move together in the long run. In the panel, the ENF has found statistically significant in the positive direction of the GK, the YK_GSYH and PK_GSYH have found statistically significant in the decreasing direction of the GK. The test of Dumitrescu and Hurlin (2012), a bidirectional causality relationship was found between the independent variables and the Gini.

Suggested Citation

  • Esra Erik Akyol & Murat Akbalık, 2022. "Econometric Analysis of the Relationship Between Inequality of Income Distribution and Financial Development (2000-2019)," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 37(118), pages 33-70, October.
    • Handle: RePEc:acc:malfin:v:37:y:2022:i:118:p:33-70
    DOI: https://doi.org/10.33203/mfy.1093965
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    More about this item

    Keywords

    Inequality of Income Distribution; Financial Development; Developed Countries; Panel Data Analysis;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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