interconnectedness between banks and financial markets, on the one hand, and the size and specificities of shadow banking systems, on the … other. Despite the limited catching up of the region the ECE5 countries has a much less deep and more bank-based financial … ECE5 countries other non-bank financial institutions are those that potentially exposed to shadow banking risk. …

reduces income inequality. Beyond that point, inequality rises if finance is expanded via market-based financing, while it … does not when finance grows via bank lending. These findings concur with a well-established literature indicating that …This paper empirically investigates the link between financial structure and income inequality. Using data for a panel …