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Financial Markets Development and Income Inequality in Iran (in Persian)

Author

Listed:
  • Ebrahimi, Mohsen

    (Iran)

  • Ale Murad, Mahmoud

    (Iran)

Abstract

Distribution of income due to its economic and social effects has always been the focus of attention of economists. In this study¡ we measure the effect of money market development on income inequality in Iran by using autoregressive distributed lag (ARDL) from 1967 to 2006. The results show that money market development reduces income inequality in the long-run and short run. Furthermore¡ literacy and economic growth rate would decrease inequality. There was a positive significant relationship between the degree of economic openness and income inequality. The study results emphasize on the necessity of promoting the money market as an important policy tool to reduce income inequality. JEL Classification: P34, P46, P45, I3

Suggested Citation

  • Ebrahimi, Mohsen & Ale Murad, Mahmoud, 2011. "Financial Markets Development and Income Inequality in Iran (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 2(6), pages 109-132, March.
    • Handle: RePEc:mbr:jmbres:v:2:y:2011:i:6:p:109-132
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    More about this item

    Keywords

    Money Markets; Poverty; Income Inequality; ARDL Model;
    All these keywords.

    JEL classification:

    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty

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