Finance, inequality, and poverty: cross-country evidence, Vol. 1 of 1

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Finance, inequality, and poverty: cross-country evidence

Author:	Beck, Thorsten; Demirguc-Kunt, Asli; Levine, Ross;	Collection Title:	Policy, Research working paper ; no. WPS 3338
Country:	World;	Date Stored:	2004/07/23
Document Date:	2004/06/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	The World Region
Report Number:	WPS3338	SubTopics:	Environmental Economics & Policies; Achieving Shared Growth; Governance Indicators; Payment Systems & Infrastructure; Economic Theory & Research; Economic Conditions and Volatility; Inequality; Health Economics & Finance
Volume No:	1 of 1	Related Dataset:	Finance, Inequality, and Poverty;

Summary: While substantial research finds that financial development boosts overall economic growth, the authors study whether financial development is pro-poor: Does financial development disproportionately raise the income of the poor? Using a broad cross-country sample, the authors find that the answer is yes: Financial intermediary development reduces income inequality by disproportionately boosting the income of the poor and therefore reduces poverty. This result is robust to controlling for simultaneity bias and reverse causation.


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	PDF 36 pages	Official version*	0.28
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File Type		Description	File Size (mb)

	PDF 36 pages	WPS3338	0.22

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