Economic Growth, Financial Development, and Income Inequality
Park, Donghyun; Shin, Kwanho | August 2015
Abstract
The paper finds that financial development contributes to reducing inequality up to a point, but as financial
development proceeds further, it contributes to greater inequality. Two factors that can help strengthen the
impact of financial development on inequality are primary schooling, and law and order.
Citation
Park, Donghyun; Shin, Kwanho. 2015. Economic Growth, Financial Development, and Income Inequality. © Asian Development Bank. http://hdl.handle.net/11540/5099. License: CC BY 3.0 IGO.ISSN
2313-6537 (Print); 2313-6545 (e-ISSN)
Keywords
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Financial Analysis
Show allCollapse
Citable URI
http://hdl.handle.net/11540/5099Metadata
Show full item record
Theme
Users also downloaded
-
The Experience of Gross National Happiness as Development Framework
(Asian Development Bank, 2015-12-04)This paper explores Gross National Happiness (GNH) as a framework for socio-economic development in Bhutan by elucidating GNH principles that affect the way Bhutanese society and state interact. It dwells more on how Bhutan is actually, in practice, ... -
Financial Development, Financial Openness, and Economic Growth
(Asian Development Bank, 2015-08-10)This paper examines the importance of financial development and openness. It discusses the results of an empirical analysis between both variables and economic growth. In addition to using more updated data, which extend the sample period to include ... -
Afghanistan: Balancing Social and Security Spending in the Context of a Shrinking Resource Envelope
(Asian Development Bank, 2014-06-30)For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps its government budget tight. This paper uses a general equilibrium model to capture the security–development trade-off facing ...