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Financial sector development and income inequality in ASEAN-5 countries: does financial Kuznets curve exists?
Muhammad Azam,Syed Ali Raza +1 more
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In this article, the influence of financial sector development on income inequality in ASEAN-5 countries, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand between 1989 and 2013, was investigated.Abstract:
This study investigates the influence of financial sector development on income inequality in ASEAN-5 countries, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand between 1989 and 2013. We have constructed the financial development index for the selected ASEAN countries by applying the principle component method for the major four proxies of financial development available in literature, namely; domestic credit by the banking sector, domestic credit to the private sector, money supply and stock market capitalisation. Pedroni panel cointegration and Kao residual panel cointegration approaches confirm the valid long run relationship between considered variables. Results of fixed-effect model indicate that the different proxies of financial development have a positive and significant impact on income inequality in ASEAN-5 countries, while the squared term of financial development proxies have a negative and significant impact on income inequality. These findings confirm the presence of financial Kuznets hypothesis in ASEAN-5 countries during the period under the study.read more
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Relationship Between FDI and Economic Growth in the Presence of Good Governance System: Evidence from OECD Countries:
TL;DR: In this paper, the relationship between foreign direct investment and economic growth in the presence of a good governance system in the Organization for Economic Co-operation and Developing Countries (OECD).
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Can cryptocurrency, mobile phones, and internet herald sustainable financial sector development in emerging markets?
Olusegun Vincent,Olaniyi Evans +1 more
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The relationship between financial development and income inequality in Turkey
TL;DR: In this paper, the authors examined the different dimensions of financial development on income inequality for the period 1990 to 2015 in Turkey and found that increasing real income and government expenditures reduce income inequality.
Journal ArticleDOI
Financial Development, Technological Innovation and Income Inequality: Time Series Evidence from Turkey
TL;DR: In this paper, the authors analyzed the link between technological innovation and income inequality for Turkey in terms of financial Kuznets curve (FKC) hypothesis and found that technological innovation positively affects income inequality while economic growth is negatively linked with income inequality.
Journal ArticleDOI
The effect of financial development on income inequality in Turkey: An estimate of the Greenwood-Jovanovic hypothesis
Emrah Koçak,Nisfet Uzay +1 more
TL;DR: In this paper, the authors examined the linear and nonlinear effect of financial development on income inequality in Turkey over the period of 1980-2013 and showed that financial development first increases income inequality but after financial development reaches a certain level, this effect is reversed and financial development reduces income inequality.
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