THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN DEVELOPING COUNTRIES AND DEVELOPED COUNTRIES: GMM METHOD

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AHMADI ALI AKBAR; ROSTAMINIA MOHAMMAD ESMAIL; GHEIBI ALIREZA

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Journal: Financial Economics Year:2016 | Volume:10 | Issue:36 Page(s): 15-32

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Title

THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN DEVELOPING COUNTRIES AND DEVELOPED COUNTRIES: GMM METHOD

Author(s)

AHMADI ALI AKBAR | ROSTAMINIA MOHAMMAD ESMAIL | GHEIBI ALIREZA | Issue Writer Certificate

Keywords

FINANCIAL DEVELOPMENTQ2

INCOME DISTRIBUTIONQ2

THE GINI COEFFICIENTQ2

POVERTY REDUCTION PANEL DATAQ2

OGMMQ2

Abstract

Considering that the main objective of this study was to investigate the effect of FINANCIAL DEVELOPMENT on INCOME DISTRIBUTION (Gini index) in selected developing countries and developed countries in the selected time period (2000-2010) is empirical modeling study using dynamic panel generalized moments (GMM) and use the variables GDP per capita, trade openness indicator, the indicator of FINANCIAL DEVELOPMENT, inflation, consumer price index and THE GINI COEFFICIENT was estimated. The results of the estimation of the model in both developed and developing countries distinguishing short and long term effects is discussed. These results indicate that the coefficient of FINANCIAL DEVELOPMENT in developing countries (0.02) have opposite signs developed countries (-0.04) is. As income inequality and FINANCIAL DEVELOPMENT theories, different estimates of the relationship between these two variables stated, FINANCIAL DEVELOPMENT in developing countries, the increase in income inequality and the increase in average household income and access many brokers and financial services, reduces income inequality. While in developed countries a negative linear relationship between FINANCIAL DEVELOPMENT and income inequality that Byangrkahsh income inequality is due to the development of markets and financial intermediaries. Coefficient of per capita income, inflation and the value of THE GINI COEFFICIENT by delays in developing countries and developed signs consistent with the model assumptions.

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APA: Copy

AHMADI, ALI AKBAR, ROSTAMINIA, MOHAMMAD ESMAIL, & GHEIBI, ALIREZA. (2016). THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN DEVELOPING COUNTRIES AND DEVELOPED COUNTRIES: GMM METHOD. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 10(36), 15-32. SID. https://sid.ir/paper/229235/en

Vancouver: Copy

AHMADI ALI AKBAR, ROSTAMINIA MOHAMMAD ESMAIL, GHEIBI ALIREZA. THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN DEVELOPING COUNTRIES AND DEVELOPED COUNTRIES: GMM METHOD. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2016;10(36):15-32. Available from: https://sid.ir/paper/229235/en

IEEE: Copy

ALI AKBAR AHMADI, MOHAMMAD ESMAIL ROSTAMINIA, and ALIREZA GHEIBI, “THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN DEVELOPING COUNTRIES AND DEVELOPED COUNTRIES: GMM METHOD,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 10, no. 36, pp. 15–32, 2016, [Online]. Available: https://sid.ir/paper/229235/en

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