Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5100365 | Journal of Empirical Finance | 2016 | 5 Pages |
Abstract
The paper introduces a new specification of the Kuznets curve, where turning point per capita income is conditioned on the level of financial development. We then provide new evidence on income inequality dynamics for the euro area (EA) countries since the mid-1980s. We find evidence in favor of an EA-wide financial Kuznets curve, also resilient to the recent financial and economic crises. From a policy perspective, our findings highlight the importance of financial development in fostering not only economic growth, but also a more even distribution of income.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Donatella Baiardi, Claudio Morana,