WHAT CAUSES INCOME INEQUALITY: ECONOMIC GROWTH OR FINANCIAL DEVELOPMENT?

被引:0
|
作者
Akinci, Merter [1 ]
Yuce Akinci, Gonul [2 ]
Yilmaz, Omer [3 ]
机构
[1] Ordu Univ, Iktisat Bolumu, Unye Iktisadi & Idari Bilimler Fak, Unye Ordu, Turkey
[2] Ordu Univ, Isletme Bolumu, Unye Iktisadi & Idari Bilimler Fak, Unye Ordu, Turkey
[3] Ataturk Univ, Iktisadi & Idari Bilimler Fak, Ekonometri Bolumu, Merkez Erzurum, Turkey
来源
ANKARA AVRUPA CALISMALARI DERGISI-ANKARA REVIEW OF EUROPEAN STUDIES | 2020年 / 19卷 / 02期
关键词
Economic Growth; Financial Development; Income Inequality; Inverted-U Hypothesis; Simultaneous Equation System; INSTRUMENTAL VARIABLE ESTIMATION; EUROPEAN INTEGRATION;
D O I
暂无
中图分类号
K9 [地理];
学科分类号
0705 ;
摘要
The paper investigates the linkage between growth, finance and inequality in the light of inverted-U hypothesis in the European Union member countries in the period 1995-2018. The findings of the multiple equations analysis indicate that economic growth and financial development act together, implying that growth boosts finance and vice versa. In addition, while the paper does not support the Kuznets hypothesis, the findings confirm the Greenwood-Jovanovic hypothesis, suggesting that the linkage between financial development and inequality is quadratic. That is to say, in the first phase of development, development of the financial markets is related to income inequality positively, however beyond the threshold level of finance, the linkage between finance and inequality becomes negative.
引用
收藏
页码:327 / 364
页数:38
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