?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F11343%2F&rft.title=Financial+Globalization+and+Inequality&rft.creator=Kunieda%2C+Takuma&rft.subject=E24+-+Employment+%3B+Unemployment+%3B+Wages+%3B+Intergenerational+Income+Distribution+%3B+Aggregate+Human+Capital+%3B+Aggregate+Labor+Productivity&rft.subject=O16+-+Financial+Markets+%3B+Saving+and+Capital+Investment+%3B+Corporate+Finance+and+Governance&rft.subject=F43+-+Economic+Growth+of+Open+Economies&rft.description=This+paper+investigates+how+financial+globalization+and+financial+development+affect+income+inequality+within+a+country.+We+demonstrate+that+when+a+country+is+financially+closed+to+the+world+market%2C+the+Gini+coefficient+is+monotonically+decreasing+with+respect+to+the+degree+of%0Afinancial+development%2C+whereas+when+a+country+becomes+so+small+due+to+financial+globalization+that+financial+development+in+the+country+does+not+affect+the+world+interest+rate%2C+the+Gini+coefficient+is+monotonically+increasing+with+respect+to+the+degree+of+financial+development.+A+simple+quantitative+analysis+for+the+Gini+coefficients+shows+that+income+inequality+in+the+United+States+is+negatively+affected+by+its+financial+development.+In+the+United+States%2C+income+inequality+has+widened+since+the+late-1970s+probably+due+to+financial+globalization+and+financial+development.&rft.date=2008-10-25&rft.type=MPRA+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F11343%2F1%2FMPRA_paper_11343.pdf&rft.identifier=++Kunieda%2C+Takuma++(2008)%3A+Financial+Globalization+and+Inequality.++++&rft.language=en