Finance Growth And Inequality
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Finance Growth And Inequality
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Author : Mr. Ross Levine
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-11
Finance Growth And Inequality written by Mr. Ross Levine and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-11 with Business & Economics categories.
Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.
Finance Growth And Inequality
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Author : Louis-Philippe Rochon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019
Finance Growth And Inequality written by Louis-Philippe Rochon and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This book brings together some leading and emerging scholars who bring an alternative view on some of the most pressing issues of today. In addition to key concepts in post-Keynesian and heterodox economics, the authors also explore financialization, debt, income distribution, and policies, and the emerging threat of dualism. Policy makers and scholars alike will find the book a much need addition to the field.
Finance Growth And Inequality
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language : en
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Finance Growth And Inequality written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Finance And Inequality
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Author : Mr.Martin Cihak
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-17
Finance And Inequality written by Mr.Martin Cihak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-17 with Business & Economics categories.
The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data covering a wide range of countries, the analysis finds that the financial sector can play a role in reducing inequality, complementing redistributive fiscal policy. By expanding the provision of financial services to low-income households and small businesses, it can serve as a powerful lever in helping create a more inclusive society but—if not well managed—it can amplify inequalities.
Financial Deepening Inequality And Growth
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Author : Robert M. Townsend
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-01
Financial Deepening Inequality And Growth written by Robert M. Townsend and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-01 with Business & Economics categories.
We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With analytical and numerical methods, we calibrate and make tractable a prototype canonical model and take it to an application, namely, Thailand 1976-1996, an emerging economy in a phase of economic expansion with uneven financial deepening and increasing inequality. We broadly replicate the actual data, test the model formally, and identify anomalies.
Finance And Income Inequality
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Author : George R. G. Clarke
language : en
Publisher: World Bank Publications
Release Date : 2003
Finance And Income Inequality written by George R. G. Clarke and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Equality categories.
Although theoretical models make distinct predictions about the relationship between financial sector development and income inequality, little empirical research has been conducted to compare their relative explanatory power. Clarke, Xu, and Zou examine the relation between financial intermediary development and income inequality in a panel data set of 91 countries for the period 1960-95. Their results provide evidence that inequality decreases as economies develop their financial intermediaries, consistent with the theoretical models in Galor and Zeira (1993) and Banerjee and Newman (1993). Moreover, consistent with the insight of Kuznets, the relation between the Gini coefficient and financial intermediary development appears to depend on the sectoral structure of the economy: a larger modern sector is associated with a smaller drop in the Gini coefficient for the same level of financial intermediary development. But there is no evidence of an inverted-U-shaped relation between financial sector development and income inequality, as suggested by Greenwood and Jovanovic (1990). The results are robust to controlling for biases introduced by simultaneity. This paper--a product of Investment Climate, Development Research Group--is part of a larger effort in the group to understand the link between economic development and financial sector performance.
Finance Inequality And Poverty
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Author : Thorsten Beck
language : en
Publisher: World Bank Publications
Release Date : 2004
Finance Inequality And Poverty written by Thorsten Beck and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Finance categories.
"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions about the impact of financial development on changes in income distribution and poverty alleviation. We find that financial development reduces income inequality by disproportionately boosting the incomes of the poor. Countries with better-developed financial intermediaries experience faster declines in measures of both poverty and income inequality. These results are robust to controlling for other country characteristics and potential reverse causality"--National Bureau of Economic Research web site.
Financial Development Inequality And Poverty
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Author : Mr.Sami Ben Naceur
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-19
Financial Development Inequality And Poverty written by Mr.Sami Ben Naceur and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-19 with Business & Economics categories.
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.
Financial Inclusion Growth And Inequality
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Author : Ms.Izabela Karpowicz
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-12
Financial Inclusion Growth And Inequality written by Ms.Izabela Karpowicz and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-12 with Business & Economics categories.
Financial inclusion has been one of the key pillars of Colombia’s development strategy for a number of years. Financial inclusion policies have aimed at channeling microcredit to poor, spreading formal banking system usage, fostering electronic payment acceptance, and making financial services more affordable. Using simulations from a general equilibrium model it is possible to identify the most binding financial sector frictions that preclude financial inclusion of enterprises, and study the effects on growth and inequality of efforts to remove these frictions. The study finds that lowering contraints on collateral promises higher growth while inequality is better tackled through measures that lower the financial participation cost.
Inclusive Growth
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Author : Howard Thomas
language : en
Publisher: Emerald Group Publishing
Release Date : 2019-04-10
Inclusive Growth written by Howard Thomas and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-10 with Business & Economics categories.
The book outlines a journey from enabling models of government and business to strategies for creating both financial and social inclusion and entrepreneurism as mechanisms for sustainable and inclusive growth.