This paper examines how domestic, foreign, private and public investments affect income-inequality through financial intermediary dynamics of depth, efficiency, activity and size. With the exception of financial allocation efficiency, financial channels of depth and activity are good for the...

Hitherto very few studies on the inequality-finance(investment) nexus have focused on the African continent owing to lack of relevant data. This paper integrates previously missing investment and financial components in the assessment of how finance affects pro-poor investment channels. Findings...

For centuries it has been believed that the extension of the franchise in unequal societies would lead to relatively high levels of redistribution. According to international rankings, how- ever, among the fourteen most unequal countries in the world, nine have been democratic for at least the...

Economic and political decisions usually involve a trade-off between efficiency and equality considerations. While some inequality is expected to prevail in our soci- eties, high levels of it are objectionable on various grounds. One of the fundamental roles of government is to collect and...

The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development...