Ang, James (2009): Financial Liberalization and Income Inequality.
Download (115kB) | Preview
This paper examines the causal relationship between financial liberalization and income inequality using India as a case study. The results indicate that there exists a robust long-run relationship between financial liberalization and income inequality, and their causal relationship is a bi-directional one.
|Item Type:||MPRA Paper|
|Original Title:||Financial Liberalization and Income Inequality|
|Keywords:||Financial liberalization, income inequality|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East
O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O16 - Financial Markets ; Saving and Capital Investment ; Corporate Finance and Governance
G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation
|Depositing User:||James Ang|
|Date Deposited:||06 Apr 2009 09:14|
|Last Modified:||19 Feb 2016 12:13|
Aghion, P. and Bolton, P. (1997). "A Theory of Trickle-Down Growth and Development." Review of Economic Studies 64, pp. 151-172.
Ang, J.B. (2009a). "Finance and Inequality: The Case of India." Southern Economic Journal, forthcoming.
____ (2009b). "Private Investment and Financial Sector Policies in India and Malaysia." World Development, forthcoming.
Ang, J.B. and McKibbin, W.J. (2007). "Financial Liberalization, Financial Sector Development and Growth: Evidence from Malaysia." Journal of Development Economics 84, pp. 215-233.
Banerjee, A.V. and Newman, A.F. (1993). "Occupational Choice and the Process of Development." Journal of Political Economy 101, pp. 274-298.
Beck, T.; Demirgüç-Kunt, A. and Levine, R. (2007). "Finance, Inequality and the Poor." Journal of Economic Growth 12, pp. 27-49.
Christopoulos, D.K. and Tsionas, E.G. (2004). "Financial Development and Economic Growth: Evidence from Panel Unit Root and Cointegration Tests." Journal of Development Economics 73, pp. 55-74.
Claessens, S. and Perotti, E. (2007). "Finance and Inequality: Channels and Evidence." Journal of Comparative Economics 35, pp. 748-773.
Clarke, G.; Xu, L.C. and Zou, H.-f. (2006). "Finance and Income Inequality: What Do the Data Tell Us?" Southern Economic Journal 72, pp. 578-596.
Johansen, S. (1988). "Statistical Analysis of Cointegration Vectors." Journal of Economic Dynamics and Control 12, pp. 231-254.
Mookherjee, D. and Ray, D. (2003). "Persistent Inequality." Review of Economic Studies 70, pp. 369-394.
Rajan, R.G. and Zingales, L. (2003). Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity. New York: Crown Business.
Rousseau, P.L. and Vuthipadadorn, D. (2005). "Finance, Investment, and Growth: Time Series Evidence from 10 Asian Economies." Journal of Macroeconomics 27, pp. 87-106.