The non-linear impact of financial development on income inequality: evidence from dynamic panel threshold model
PurposeThis study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.Design/methodology/approachThe study uses a dynamic panel threshold method with an endogeneous threshold variable on...
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| Published in | Journal of economic studies (Bradford) Vol. 51; no. 3; pp. 667 - 691 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
Glasgow
Emerald Publishing Limited
08.04.2024
Emerald Group Publishing Limited |
| Subjects | |
| Online Access | Get full text |
| ISSN | 0144-3585 1758-7387 |
| DOI | 10.1108/JES-01-2023-0034 |
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| Abstract | PurposeThis study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.Design/methodology/approachThe study uses a dynamic panel threshold method with an endogeneous threshold variable on a comprehensive sample of 85 countries over the period of 1996-2015.FindingsThe author finds that financial development activities increase income inequality in developed countries. However, financial development promotes income equality in developing countries. Further, the study finds that education and institutional quality are the channels through which financial development has non-linear impacts on income inequality.Originality/valueThe study explores relatively new method to examine the nonlinear impact of financial development and also considers new dataset for the main explanatory variable. |
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| AbstractList | PurposeThis study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.Design/methodology/approachThe study uses a dynamic panel threshold method with an endogeneous threshold variable on a comprehensive sample of 85 countries over the period of 1996-2015.FindingsThe author finds that financial development activities increase income inequality in developed countries. However, financial development promotes income equality in developing countries. Further, the study finds that education and institutional quality are the channels through which financial development has non-linear impacts on income inequality.Originality/valueThe study explores relatively new method to examine the nonlinear impact of financial development and also considers new dataset for the main explanatory variable. |
| Author | Sikhawal, Shobhana |
| Author_xml | – sequence: 1 givenname: Shobhana orcidid: 0000-0002-2047-2908 surname: Sikhawal fullname: Sikhawal, Shobhana email: shobhana@iitk.ac.in |
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| Keywords | D63 Income inequality D31 E44 O16 Financial development G23 Dynamic panel threshold |
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| SubjectTerms | Developed countries Developing countries Economic analysis Economic growth Entrepreneurs Equality Financial services Human capital Hypotheses Income distribution Income inequality Investments LDCs Low income groups Securities markets Wealth |
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| Title | The non-linear impact of financial development on income inequality: evidence from dynamic panel threshold model |
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