A SURVEY FOR THE AFFECTS OF FINANCIAL DEVELOPMENT ON THE INCOME INEQUALITY IN THE SELECTED ISLAMIC COUNTRIES

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HOMAYOUNIFAR MASOUD; CHESHMI ALI; YAGHUTI JAFARABAD FATEMEH

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Journal: JOURNAL OF ISLAMIC ECONOMIC STUDIES Year:2017 | Volume:9 | Issue:1 (17) Page(s): 37-58

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Title

A SURVEY FOR THE AFFECTS OF FINANCIAL DEVELOPMENT ON THE INCOME INEQUALITY IN THE SELECTED ISLAMIC COUNTRIES

Author(s)

HOMAYOUNIFAR MASOUD | CHESHMI ALI | YAGHUTI JAFARABAD FATEMEH | Issue Writer Certificate

Keywords

FINANCIAL DEVELOPMENTQ2

PANEL DATAQ2

GINI COEFFICIENTQ2

ISLAMIC COUNTRIESQ2

INCOME INEQUALITYQ1

Abstract

Equitable distribution of income and economic growth are challenges for policy-makers. Therefore, it is important to investigate the influencing factors of it. Given that FINANCIAL DEVELOPMENT is an important factor affecting on INCOME INEQUALITY, in this study, the effect of FINANCIAL DEVELOPMENT on the GINI COEFFICIENT as INCOME INEQUALITY index is examined with using PANEL DATA methods during the period of 1994-2011 in selected ISLAMIC COUNTRIES.Model estimation results show that the FINANCIAL DEVELOPMENT in both the banking sector and stock has an Opposite effect on INCOME INEQUALITY. Inverted U-shaped relationship by Greenwood and Jovanovich that shows non-linear relationship between financial sector development and INCOME INEQUALITY is not confirmed in both the banking and the stock market. But hypothesis by the linear relationship between FINANCIAL DEVELOPMENT and INCOME INEQUALITY was confirmed. Inflation has a direct effect on INCOME INEQUALITY, which means that inflation has an increase in INCOME INEQUALITY in the studied countries.

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APA: Copy

HOMAYOUNIFAR, MASOUD, CHESHMI, ALI, & YAGHUTI JAFARABAD, FATEMEH. (2017). A SURVEY FOR THE AFFECTS OF FINANCIAL DEVELOPMENT ON THE INCOME INEQUALITY IN THE SELECTED ISLAMIC COUNTRIES. JOURNAL OF ISLAMIC ECONOMIC STUDIES, 9(1 (17) ), 37-58. SID. https://sid.ir/paper/220856/en

Vancouver: Copy

HOMAYOUNIFAR MASOUD, CHESHMI ALI, YAGHUTI JAFARABAD FATEMEH. A SURVEY FOR THE AFFECTS OF FINANCIAL DEVELOPMENT ON THE INCOME INEQUALITY IN THE SELECTED ISLAMIC COUNTRIES. JOURNAL OF ISLAMIC ECONOMIC STUDIES[Internet]. 2017;9(1 (17) ):37-58. Available from: https://sid.ir/paper/220856/en

IEEE: Copy

MASOUD HOMAYOUNIFAR, ALI CHESHMI, and FATEMEH YAGHUTI JAFARABAD, “A SURVEY FOR THE AFFECTS OF FINANCIAL DEVELOPMENT ON THE INCOME INEQUALITY IN THE SELECTED ISLAMIC COUNTRIES,” JOURNAL OF ISLAMIC ECONOMIC STUDIES, vol. 9, no. 1 (17) , pp. 37–58, 2017, [Online]. Available: https://sid.ir/paper/220856/en

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