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Financial inclusion is crucial for the inclusive and sustainable economic growth of developing countries. Access to financial services to all citizens, particularly to low income and poor people is a key to promote inclusive growth. While rural financial inclusion assumes importance from policy...
Persistent link: https://www.econbiz.de/10012979589
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … as evidence supporting the significance of financial development for economic development although banks and stock …
Persistent link: https://www.econbiz.de/10010723543
inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the … interrelationships between inequality and economic growth. This paper develops a simple model to establish that the change in income …, inequality and growth bear a non-linear relationship: for low values of inequality, economic growth rate is an inverted U …
Persistent link: https://www.econbiz.de/10013099565
theoretical framework for the relationship between structural reforms, economic growth and income inequality. We argue that … inequality. We conclude by proposing a 7-point agenda for future research …
Persistent link: https://www.econbiz.de/10012927189
In view of rising inequality in fast growing Asian developing countries, it is important to study the relationship … between economic growth and income inequity. We develop a simple model to establish that economic growth and inequality can … bear a complex and non-linear relationship if policy makers try to impact on one (say, inequality) by influencing the other …
Persistent link: https://www.econbiz.de/10013021416
We estimate growth rates of real incomes in the U.S. by quintiles using the Congressional Budget Office's (CBO) post-tax, post-transfer data as basis for the period 1979-2011. We improve upon them by including only the present value of earnings that will accrue in retirement and excluding items...
Persistent link: https://www.econbiz.de/10012991937
inequality follows an inverted U-shaped evolution …
Persistent link: https://www.econbiz.de/10013044596
We discuss the effect of formal political institutions (electoral systems, fiscal decentralization, presidential and parliamentary regimes) on the extent and direction of income (re-)distribution. Empirical evidence is presented for a large sample of 70 economies and a panel of 13 OECD countries...
Persistent link: https://www.econbiz.de/10013315720
development for inequality in the global economy. If there are many small firms, better access to external funds reduces wage … inequality and unemployment. In contrast, if there are many highproductive firms (those that export), financial development may … have opposite effects - especially if trade costs are low. In sum, the implications of financial development for inequality …
Persistent link: https://www.econbiz.de/10012996265
The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the monetary overinvestment theories of Hayek and Mises. We argue that ultra-loose monetary policies create incentives to substitute real investment by financial investment. When...
Persistent link: https://www.econbiz.de/10012996802