OCCASIONAL CEE SEMINAR

Unal Seven

IMT Institute for Advanced Studies Lucca

Date: Friday, December 19th

Time: 15:00

Place: Murat Sertel Lounge (Natuk Birkan Hall, 2nd Floor)

Title: Financial Development, Inequality and Poverty: Evidence from Emerging Economies


Abstract

An extensive literature has shown that financial development boosts the subsequent economic growth. However, economists have long debated whether financial development contributes to less poverty and inequality. By employing principal component analysis to construct index measures for stock market development and banking development, this paper specifically investigates the impact of stock market/bank development on income inequality/poverty based on a panel data set comprised of emerging countries. We refine the relationship between financial development and inequality/poverty from the perspective of emerging countries. Mixed explanatory empirical findings on panel studies suggest that financial development may not necessarily help the poor in emerging economies. Moreover, the results suggest that it would be better to consider both the separate and simultaneous impacts of banks and stock markets while examining the role of banks and stock markets in inequality/poverty. These results imply important policy implications.

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Events

  • 2016 CEE ANNUAL CONFERENCE
    The 2016 Annual Conference of CEE was held on 16-17 May, 2016, together with the 30th Anniversary Conference of Bogazici Journal. Please click for the program.

  • WORKSHOP ON GROWTH AND DISTRIBUTION
    The Workshop on Growth and Distribution will be held on Friday, September 23rd.

  • LECTURES ON GROWTH
    Dr. Cem Oyvat from the University of Greenwich gave a series of lectures on Neo-Kaleckian Growth Models on 1-2 June 2015.


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