THE INFLUENCE OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN SOME SELECTED COUNTRIES

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DIZAJI MONIREH; AHANGARI GARGARI MOHADESAH

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Title

THE INFLUENCE OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN SOME SELECTED COUNTRIES

Author(s)

DIZAJI MONIREH | AHANGARI GARGARI MOHADESAH | Issue Writer Certificate

Keywords

INCOME INEQUALITYQ2

FINANCIAL DEVELOPMENTQ2

HUMAN DEVELOPMENTQ2

PANEL DATAQ2

GENERALIZED METHOD OF MOMENTQ1

Abstract

Since the development of institutions, agencies and financial markets of each country can have significant effects on income distribution of that country. The aim of this study is to examine the relation between the FINANCIAL DEVELOPMENT and inequality in developed and developing countries by using generalized least square method(GLS) and GENERALIZED METHOD OF MOMENTs(GMM) and related theories, studied by entering variables like unemployment rate, the average years of schooling indices of HUMAN DEVELOPMENT, government size and per capita during the period 2000 to 2013. Thus, according to the ranking report of the United Nations HUMAN DEVELOPMENT(UNDP) in 2014, 35 countries with very high HUMAN DEVELOPMENT index and 32 countries with high and medium HUMAN DEVELOPMENT index have been selected as developed and developing countries, respectively, which these regions have had full data. The estimation results have been obtained using Stata14 and Eviews9. Empirical results obtained for developed countries, showed that the square of FINANCIAL DEVELOPMENT is part of the descending inverted U curve. For developing countries, the estimation result of GLS approved the inverted U curve for the variables FINANCIAL DEVELOPMENT and per capita income, while the GMM results income with INCOME INEQUALITY, respectively. Finally, according to the above discussion, it can be concluded that for the developed and developing countries, the increase of financial institutions will reduce the INCOME INEQUALITY.

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APA: Copy

DIZAJI, MONIREH, & AHANGARI GARGARI, MOHADESAH. (2016). THE INFLUENCE OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN SOME SELECTED COUNTRIES. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 9(33), 75-103. SID. https://sid.ir/paper/229318/en

Vancouver: Copy

DIZAJI MONIREH, AHANGARI GARGARI MOHADESAH. THE INFLUENCE OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN SOME SELECTED COUNTRIES. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2016;9(33):75-103. Available from: https://sid.ir/paper/229318/en

IEEE: Copy

MONIREH DIZAJI, and MOHADESAH AHANGARI GARGARI, “THE INFLUENCE OF FINANCIAL DEVELOPMENT ON INCOME DISTRIBUTION IN SOME SELECTED COUNTRIES,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 9, no. 33, pp. 75–103, 2016, [Online]. Available: https://sid.ir/paper/229318/en

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