This paper analyzes the under-investigated relationship uniting financial development and income distribution. We use a novel approach taking into account for the first time the specific channels linking banks, capital markets and income inequality, the time-varying nature of the relationship,...

The following sections are included: <ul><li class="bullet">Introduction</li><li class="bullet">Microfinance and Economic Development</li><li class="bullet">Indian Microfinance and the Impact of Commercialization</li><li class="bullet">Minsky's ¡°Financial Instability¡± Hypothesis</li><li class="bullet">Data and Econometric Methodology</li><li class="bullet">Results and Policy Implications</li><li class="bullet">Conclusions</li><li class="bullet">References</li></ul><p> <form name="frmAbs" action="" style="visibility:hidden;"> <input name="href" value="/doi/abs/10.1142/9781783262991_0003" type="hidden"> <input name="title" value="Endogenous Fragility in Microfinance: Evidence from India)" type="hidden"> <input name="doi" value="10.1142/9781783262991_0003" checked="checked" type="checkbox">