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Financial development and inequality in the global economy

Ehrlich, Maximilian von; Seidel, Tobias - 2016

We build a heterogeneous-firms model with firm-specific wages and credit frictions to study the role of financial 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...

Persistent link: https://www.econbiz.de/10011434439

Finance and income inequality : a review and new evidence

Haan, Jakob de; Sturm, Jan-Egbert - 2016

Using a panel fixed effects model for a sample of 121 countries covering 1975-2005, we examine how financial development, financial liberalization and banking crises are related to income inequality. In contrast with most previous work, our results suggest that all finance variables increase...

Persistent link: https://www.econbiz.de/10011536253

All about the giants : probing the influences on growth and income inequality at the end of the 20th century

Berry, R. Albert; Serieux, John - 2003

persons for the years 1980, 1990 and 2000, and world poverty rates for the same years. It also presents the results of a … growth and changes in global income inequality and poverty. The authors find that rapid growth in China (despite a downward … inequality. The impact of these twocountries is similarly critical with respect to global poverty reduction. …

Persistent link: https://www.econbiz.de/10011514125

Economic inequality and Covid-19 death rates in the first wave, a cross-country analysis

Davies, James B. - 2021

poverty in the pandemic’s first wave is studied, controlling for other underlying factors, in a sample of 141 countries. An … income. Poverty as measured by the $1.90 per day standard has a small negative association with death rates. The elasticity …

Persistent link: https://www.econbiz.de/10012489645

What drives financial development? : a meta-regression analysis

Doucouliagos, Chris; Haan, Jakob de; Sturm, Jan-Egbert - 2020

robustly established that remittances and trust matter for financial development. …

Persistent link: https://www.econbiz.de/10012229266

The political economy of financial systems : evidence from suffrage reforms in the last two centuries

Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - 2013 - This version: August 23, 2013

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Persistent link: https://www.econbiz.de/10010223450

Is the relationship between financial development and economic growth monotonic? : evidence from a sample of middle income countries

Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - 2014

We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...

Persistent link: https://www.econbiz.de/10010340261

Why countries differ in thin capitalization rules : the role of financial development

Mardan, Mohammed - 2015

In the absence of financial frictions, the purpose of thin capitalization rules is to limit multinational firms’ possibilities of engaging in tax planning via debt shifting. This paper analyzes the effects of thin capitalization rules in the case where firms have limited access to external...

Persistent link: https://www.econbiz.de/10010506334

Trade, finance and endogenous firm heterogeneity

Bonfiglioli, Alessandra; Crinò, Rosario; Gancia, Gino … - 2016 - This draft: March 2016

We study how financial frictions affect firm-level heterogeneity and trade. We build a model where productivity differences across monopolistically competitive firms are endogenous and depend on investment decisions at the entry stage. By increasing entry costs, financial frictions lower the...

Persistent link: https://www.econbiz.de/10011447515

The direct and indirect effects of financial development on international trade: evidence from the CEEC-6

Caporale, Guglielmo Maria; Sova, Anamaria Dana; Sova, Robert - 2020

This paper analyses the relationship between international trade and financial development in six EU members from Central and Eastern Europe (CEEC-6) using dynamic panel data approaches, specifically the system Generalized Method of Moments (GMM) and pooled mean group (PMG) estimators. The...

Persistent link: https://www.econbiz.de/10012291894