Journal ArticleDOI
Finance, inequality and the poor
TLDR
This article found that financial development disproportionately boosts incomes of the poorest quintile and reduces income inequality, and that about 40% of the long-run impact of financial development on the income growth was due to reductions in income inequality.Abstract:
Financial development disproportionately boosts incomes of the poorest quintile and reduces income inequality. About 40% of the long-run impact of financial development on the income growth of the poorest quintile is the result of reductions in income inequality, while 60% is due to the impact of financial development on aggregate economic growth. Furthermore, financial development is associated with a drop in the fraction of the population living on less than $ 1 a day, a result which holds when conditioning on average growth. These findings emphasize the importance of the financial system for the poor.read more
Citations
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Journal ArticleDOI
Regression Diagnostics: Identifying Influential Data and Sources of Collinearity
TL;DR: This chapter discusses Detecting Influential Observations and Outliers, a method for assessing Collinearity, and its applications in medicine and science.
Journal ArticleDOI
Big bad banks? The winners and losers from bank deregulation in the United States
TL;DR: In this article, the authors assess the impact of bank deregulation on the distribution of income in the United States and find that bank deregulation tightened the distribution by increasing the relative wage rates and working hours of unskilled workers.
Journal ArticleDOI
Reaching out : access to and use of banking services across countries
TL;DR: In this paper, the authors present new indicators of banking sector penetration across 99 countries based on a survey of bank regulatory authorities, and explore the association between the outreach indicators and measures of financial, institutional, and infrastructure development across countries, and relate these banking outreach indicators to measures of firms' financing constraints.
Posted Content
Inequality and Growth: What Can the Data Say?
Abhijit Banerjee,Esther Duflo +1 more
TL;DR: The authors showed that the growth rate is an inverted U-shaped function of net changes in inequality: Changes in inequality (in any direction) are associated with reduced growth in the next period.
BookDOI
Financial institutions and markets across countries and over time - data and analysis
TL;DR: In this article, the authors introduce the updated and expanded version of the Financial Development and Structure Database and present recent trends in structure and development of financial institutions and markets across countries, adding indicators on banking structure and financial globalization.
References
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Journal ArticleDOI
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
Journal ArticleDOI
Another look at the instrumental variable estimation of error-components models
Manuel Arellano,Olympia Bover +1 more
TL;DR: In this paper, a framework for efficient IV estimators of random effects models with information in levels which can accommodate predetermined variables is presented. But the authors do not consider models with predetermined variables that have constant correlation with the effects.
Journal ArticleDOI
Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
Book
Regression Diagnostics: Identifying Influential Data and Sources of Collinearity
TL;DR: In this article, the authors present a method for detecting and assessing Collinearity of observations and outliers in the context of extensions to the Wikipedia corpus, based on the concept of Influential Observations.