Financial development, income inequality, and country risk

Journal of International Money and Finance - Tập 93 - Trang 1-18 - 2019
Yi-Bin Chiu1, Chien-Chiang Lee2
1School of Business Administration, Southwestern University of Finance and Economics, Chengdu, Sichuan, China
2Department of Finance, National Sun Yat-sen University, Kaohsiung, Taiwan

Tài liệu tham khảo

Afesorgbor, 2016, The impact of economic sanctions on income inequality of target states, World Dev., 83, 1, 10.1016/j.worlddev.2016.03.015 Alesina, 1996, Income distribution, political instability, and investment, Eur. Econ. Rev., 40, 1203, 10.1016/0014-2921(95)00030-5 Alvaredo, 2015, Recent trends in inequality and poverty in developing countries, Handbook Income Distribution, 2, 697, 10.1016/B978-0-444-59428-0.00010-2 Atkinson, 1983 Banerjee, 1993, Occupational choice and the process of development, J. Political Econ., 101, 274, 10.1086/261876 Beck, 2007, Finance, inequality and the poor, J. Econ. Growth, 12, 27, 10.1007/s10887-007-9010-6 Becker, 1993 Bjørnskov, 2017, Growth, inequality, and economic freedom: evidence from the U.S. states, Contemporary Econ. Policy, 35, 518, 10.1111/coep.12199 Boix, 2008, Economic roots of civil wars and revolutions in the contemporary world, World Politics, 60, 390, 10.1017/S0043887100009047 Cabral, 2016, Does globalization affect top income inequality?, J. Policy Modeling, 38, 916, 10.1016/j.jpolmod.2016.05.001 Chen, 2016, Financial development and income inequality: long-run relationship and short-run heterogeneity, Emerging Markets Finance Trade, 52, 733, 10.1080/1540496X.2016.1116281 Clarke, 2006, Finance and income inequality: what do the data tell us?, South Econ. J., 72, 578, 10.2307/20111834 Daisaka, 2014, Globalization, financial development and income inequality, Pacific Econ. Rev., 19, 612, 10.1111/1468-0106.12086 de Hann, 2017, Finance and income inequality: a review and new evidence, Eur. J. Polit. Econ., 50, 171, 10.1016/j.ejpoleco.2017.04.007 Deininger, 1998, New ways of looking at old issues: inequality and growth, J. Dev. Econ., 57, 259, 10.1016/S0304-3878(98)00099-6 Demirgüç-Kunt, 2009, Finance and inequality: theory and evidence, Ann. Rev. Finan. Econ., 1, 287, 10.1146/annurev.financial.050808.114334 Dollar, 2002, Growth is good for the poor, J. Econ. Growth, 7, 195, 10.1023/A:1020139631000 Foellmi, 2010, Market imperfections, wealth inequality, and the distribution of trade gains, J. Int. Econ., 81, 15, 10.1016/j.jinteco.2010.03.001 Fouquau, 2008, The Feldstein-Horioka puzzle: a panel smooth transition regression approach, Econ. Model., 25, 284, 10.1016/j.econmod.2007.06.008 Galor, 1993, Income distribution and macroeconomics, Rev. Econ. Stud., 60, 35, 10.2307/2297811 Gimet, 2011, A closer look at financial development and income distribution, J. Bank. Finance, 35, 1698, 10.1016/j.jbankfin.2010.11.011 Goodin, 1980, Rational participation: the politics of relative power, Br. J. Political Sci., 10, 273, 10.1017/S0007123400002209 Gradstein, 2007, Inequality, democracy and the protection of property rights, Econ. J., 117, 252, 10.1111/j.1468-0297.2007.02010.x Greenwood, 1990, Financial development, growth, and the distribution of income, J. Political Econ., 98, 1076, 10.1086/261720 Jauch, 2016, Financial development and income inequality: a panel data approach, Empirical Econ., 51, 291, 10.1007/s00181-015-1008-x Johansson, 2014, Financial sector policies and income inequality, China Econ. Rev., 31, 367, 10.1016/j.chieco.2014.06.002 Kim, 2011, Nonlinearity in the financial development-income inequality nexus, J. Comp. Econ., 39, 310, 10.1016/j.jce.2011.07.002 Kunieda, 2014, Finance and inequality: how does globalization change their relationship?, Macroeconomic Dyn., 18, 1091, 10.1017/S1365100512000843 Kuznets, 1955, Economic growth and income inequality, Am. Econ. Rev., 45, 1 La Port, 1997, Legal determinants of external finance, J. Finan., 52, 1131, 10.1111/j.1540-6261.1997.tb02727.x La Port, 1998, Law and finance, J. Political Econ., 106, 1113, 10.1086/250042 Law, 2014, Financial development and income inequality at different levels of institutional quality, Emerging Markets Finan. Trade, 50, 21, 10.2753/REE1540-496X5001S102 Lee, 2013, Insurance demand and country risks: a nonlinear panel data analysis, J. Int. Money Finance, 36, 68, 10.1016/j.jimonfin.2013.03.009 Lee, 2018, The impact of country risk on income inequality: a multilevel analysis, Soc. Indic. Res., 136, 139, 10.1007/s11205-016-1534-8 Lütkepohl, 1982, Non-causality due to omitted variables, J. Econ., 19, 367, 10.1016/0304-4076(82)90011-2 Maddala, 1999, A comparative study of unit root tests with panel data and a new simple test, Oxford Bull. Econ. Stat., 61, 631, 10.1111/1468-0084.61.s1.13 Nollert, 1995, Neocorporatism and political protest in the western democracies: a cross-national analysis, 68 Organisation for Economic Co-operation and Development (OECD), 2008 Organisation for Economic Co-operation and Development (OECD), 2015 Paukert, 1973, Income distribution at different levels of development: a survey of evidence, Int. Labor Rev., 108, 97 Rajan, 2003, The great reversals: the politics of financial development in the twentieth century, J. Financ. Econ., 69, 5, 10.1016/S0304-405X(03)00125-9 Ravallion, 2001, Growth, inequality and poverty: looking beyond averages, World Dev., 29, 1803, 10.1016/S0305-750X(01)00072-9 Roe, 2011, Political instability: effects on financial development, roots in the severity of economic inequality, J. Comp. Econ., 39, 279, 10.1016/j.jce.2011.02.001 Sehrawat, 2015, Financial development and income inequality in India: an application of ARDL approach, Int. J. Soc. Econ., 42, 64, 10.1108/IJSE-09-2013-0208 Seven, 2016, Does financial development reduce income inequality and poverty? Evidence from emerging countries, Emerging Markets Rev., 26, 34, 10.1016/j.ememar.2016.02.002 Shahbaz, 2015, Financial development and income inequality: is there any financial Kuznets curve in Iran?, Soc. Indic. Res., 124, 357, 10.1007/s11205-014-0801-9 Slottje, 1998 Solt, 2008, Economic inequality and democratic political engagement, Am. J. Political Sci., 52, 48, 10.1111/j.1540-5907.2007.00298.x Solt, 2015, Economic inequality and nonviolent protest, Soc. Sci. Quart., 96, 1314, 10.1111/ssqu.12198 Solt, 2016, Standardizing the world income inequality database, Soc. Sci. Quart., 90, 231, 10.1111/j.1540-6237.2009.00614.x Sonin, 2003, Why the rich may favor poor protection of property rights, J. Comparative Econ., 31, 715, 10.1016/j.jce.2003.09.005 Stiglitz, 2009, The anatomy of a murder: who killed America’s economy?, Crit. Rev., 21, 329, 10.1080/08913810902934133 Summers, 1984, Changes in the world income distribution, J. Policy Model., 6, 237, 10.1016/0161-8938(84)90014-0 Tan, 2012, Nonlinear dynamics of the finance-inequality nexus in developing countries, J. Econ. Inequal., 10, 551, 10.1007/s10888-011-9174-3 von Ehrlich, 2015, Regional implications of financial market development: Industry location and income inequality, Eur. Econ. Rev., 73, 85, 10.1016/j.euroecorev.2014.10.008 White, 2001, Growth versus distribution: does the pattern of growth matter?, Dev. Policy Rev., 19, 267, 10.1111/1467-7679.00134