| Description |
1 online resource (28 pages) |
| Series |
IMF Working Paper ; WP/16/32 |
|
IMF working paper ; WP/16/32.
|
| Summary |
This paper provides evidence on the link between financial development and income distribution. Several dimensions of financial development are considered: financial access, efficiency, stability, and liberalization. Each aspect is represented by two indicators: one related to financial institutions, and the other to financial markets. Using a sample of 143 countries from 1961 to 2011, the paper finds that four of the five dimensions of financial development can significantly reduce income inequality and poverty, except financial liberalization, which tends to exacerbate them. Also, banking sector development tends to provide a more significant impact on changing income distribution than stock market development. Together, these findings are consistent with the view that macroeconomic stability and reforms that strengthen creditor rights, contract enforcement, and financial institution regulation are needed to ensure that financial development and liberalization fully support the reduction of poverty and income equality. --Abstract |
| Notes |
"February 2016." |
|
"Prepared by Sami Ben Naceur and RuiXin Zhang." |
|
"Institute for Capacity Development." |
| Bibliography |
Includes bibliographical references (page13) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed February 22, 2016) |
| Subject |
Financial institutions.
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Capital market.
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Economic development.
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Income distribution.
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Poverty.
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Poverty
|
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economic development.
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poverty.
|
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Capital market.
|
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Economic development.
|
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Financial institutions.
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Income distribution.
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Poverty.
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| Form |
Electronic book
|
| Author |
Zhang, Ruixin, author.
|
|
International Monetary Fund. Institute for Capacity Development, issuing body.
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| ISBN |
1498359280 |
|
9781498359283 |
| ISSN |
1018-5941 |
|
