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cross-country sample, the authors find that the answer is yes: Financial intermediary development reduces income inequality …
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The author explores a possible link between financial development and trade in manufactures. His theoretical model focuses on the role of financial intermediaries in facilitating large-scale, high-return projects. Results show that economies with better developed financial sectors have a...
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lowered income inequality by affecting labor market conditions, not by boosting the business income of the poor, nor by … account for the bulk of the explained drop in income inequality. …
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