Financial development and income inequality: evidence from African countries : WestminsterResearch

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Title	Financial development and income inequality: evidence from African countries
Authors	Enowbi Batuo, M., Guidi, F. and Kupukile, M.
Abstract	This paper present empirical evidence on how financial development is related to income distribution in a panel data set covering 22 African countries for the period between 1990 to 2004. A dynamic panel estimation technique (GMM) is employ and the findings indicate that income inequality decrease as economies develop their financial sector, which is consistent with the bulk of theoretical and empirical research. The result also confirm that educational attainment play a significant role in making income distribution more equal. We also find no evidence supporting the Greenwood-Jovanovic hypothesis of an inverted-U- shaped relationship between financial sector development and inequality.
Journal	African Development Bank Conference
Year	2011
Publisher	African Development Bank
Web address (URL)	http://www.afdb.org/fileadmin/uploads/afdb/Documents/Knowledge/Session%20II.2.3_1.%20Financial%20Development%20and%20Income%20Inequality.pdf
Completed	2011

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Financial development and income inequality: evidence from African countries

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