Finance and wealth inequality:

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 fi...

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Hauptverfasser: Hasan, Iftekhar (VerfasserIn), Horváth, Roman (VerfasserIn), Mareš, Jan (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Regensburg Leibniz Institute for Eastern and Southeastern European Studies December 2018
Schriftenreihe:IOS working papers No. 378
Online-Zugang:kostenfrei
Zusammenfassung: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.
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