{"title":"The impact of finance on income inequality: a threshold analysis","authors":"John Thornton, Chrysoivalantis Vasilakis","doi":"10.17811/ebl.13.2.2024.104-111","DOIUrl":null,"url":null,"abstract":"We identify the optimal level of financial development for income inequality in a panel of countries employing a non-linear panel Generalized Method of Moments approach. The impact of financial development is statistically significant above and below the optimal level, but its impact on income inequality is not asymmetric, with the costs of financial ‘under-development’ being greater than those for ‘over-development’.","PeriodicalId":0,"journal":{"name":"","volume":"60 28","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.17811/ebl.13.2.2024.104-111","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
We identify the optimal level of financial development for income inequality in a panel of countries employing a non-linear panel Generalized Method of Moments approach. The impact of financial development is statistically significant above and below the optimal level, but its impact on income inequality is not asymmetric, with the costs of financial ‘under-development’ being greater than those for ‘over-development’.
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