Detail publikace

Finance and Wealth Inequality

Autor: prof. Roman Horváth Ph.D., Iftekhar Hasan
Mgr. Jan Mareš, Ph.D., Iftekhar Hasan
Typ: IES Working Papers
Rok: 2018
Číslo: 35
Publikováno v: IES Working Papers 35/2018
Místo vydání: Prague
Klíčová slova: Wealth inequality, finance, Bayesian model averaging
JEL kódy: D31, E21
Citace: Hasan, I., Horvath, R. and Mares, J. (2018): "Finance and Wealth Inequality". IES Working Papers 35/2018, IES FSV, Charles University.
Abstrakt: Using a global sample, this paper investigates the determinants of wealth inequality capturing various economic, financial, political, institutional, and geographical indicators. Using instrumental variable Bayesian model averaging, it reveals that only a handful of indicators robustly matter and finance plays a key role. It reports that while financial depth increases wealth inequality, efficiency and access to finance reduce inequality. In addition, redistribution and education are associated with lower inequality whereas wars and openness to international trade contribute to greater wealth inequality.
Ke stažení: wp_2018_35_mares




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