<abstract xmlns="http://www.w3.org/1999/xhtml"><p> This paper examines the relationship between financial sector transformation and income inequality. We construct an econometric model of income concentration for a panel of 16 OECD countries in the years 1995-2009. From our study, financial sector transformation, measured individually by three indicators (GDP share of stock market value traded, bank income and private credit), emerges as a nexus of complex and interconnected phenomena, which are strongly associated with the concentration of income at the top of the distribution.</p></abstract>

This paper examines the relationship between financial sector transformation and income inequality. We construct an econometric model of income concentration for a panel of 16 OECD countries in the years 1995-2009. From our study, financial sector transformation, measured individually by three indicators (GDP share of stock market value traded, bank income and private credit), emerges as a nexus of complex and interconnected phenomena, which are strongly associated with the concentration of income at the top of the distribution.

Financial Sector Transformation and Income Inequality-An Empirical Analysis

University of Leeds, Maurice Keyworth Building LS2 9JT,

United Kingdom of Great Britain and Northern Ireland

Financial Internet Quarterly

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Financial Sector Transformation and Income Inequality-An Empirical Analysis"}

This paper examines the relationship between financial sector transformation and income inequality. We construct an econometric model of income concentration...

Financial Sector Transformation and Income Inequality-An Empirical Analysis

Published Online: Feb 09, 2017

Page range: 36 - 48

Received: Jul 01, 2015

Accepted: Oct 03, 2016

DOI: https://doi.org/10.1515/fiqf-2016-0142

Keywords
Financial Markets, Inequality, Fixed Effects Models

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Financial Sector Transformation and Income Inequality-An Empirical Analysis

Published Online: Feb 09, 2017

Page range: 36 - 48

Received: Jul 01, 2015

Accepted: Oct 03, 2016

DOI: https://doi.org/10.1515/fiqf-2016-0142

KeywordsFinancial Markets, Inequality, Fixed Effects Models

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
Financial Markets, Inequality, Fixed Effects Models