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...

A growing concern on widening income gap between the rich and the poor, the policy mismatch in tackling the relative poverty and income inequality have invited increasing volumes of research focusing on the nexus between equity and efficient growth. Developed countries have experienced the...

One of the most serious weaknesses of the human development index (HDI) is does not take into account the distribution of human development within a country. All previous attempts to capture inequality in the HDI have also used aggregate information and there exists no HDI at the household...