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Financial Sector T Nsformation And Income Inequality– An Empirical Analysis

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  • Hanna K. Szymborska

    (University of Leeds)

Abstract

This paper examines the relationship between fi nancial 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, fi nancial 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.

Suggested Citation

  • Hanna K. Szymborska, 2016. "Financial Sector T Nsformation And Income Inequality– An Empirical Analysis," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 12(2), pages 36-48, October.
    • Handle: RePEc:rze:efinan:v:12:y:2016:i:2:p:36-48
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    References listed on IDEAS

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    1. Malcolm Sawyer, 2013. "What Is Financialization?," International Journal of Political Economy, Taylor & Francis Journals, vol. 42(4), pages 5-18.
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    4. Deininger, Klaus & Squire, Lyn, 1996. "A New Data Set Measuring Income Inequality," The World Bank Economic Review, World Bank, vol. 10(3), pages 565-591, September.
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    12. repec:ilo:ilowps:470934 is not listed on IDEAS
    13. Facundo Alvaredo & Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2013. "The Top 1 Percent in International and Historical Perspective," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 3-20, Summer.
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    Cited by:

    1. Benos, Nikos & Tsiachtsiras, Georgios, 2019. "Innovation and Income Inequality: World Evidence," MPRA Paper 92050, University Library of Munich, Germany.
    2. Benos, Nikos & Tsiachtsiras, Georgios, 2018. "Innovation and Inequality: World Evidence," MPRA Paper 89217, University Library of Munich, Germany.

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    More about this item

    Keywords

    Financial Markets; Inequality; Fixed Eff ects Models;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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