The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...

The transition from low-income developing country to high-income developed country involves a deep process of structural transformation in which the productive structure of an economy changes. In this paper we examine this process of structural change and its link to productivity growth for a...