Financial Sector Transformation And Income Inequality – An Empirical Analysis

Szymborska, Hanna (2016). Financial Sector Transformation And Income Inequality – An Empirical Analysis. E-Finanse, 12(2) pp. 36–48.

DOI: https://doi.org/10.14636/1734-039X_12_2_004

URL: https://finquarterly.com/archives/?number=45&id=13

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), emer- ges as a nexus of complex and interconnected phenomena, which are strongly associated with the concentration of income at the top of the distribution.

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