Finance Inequality And Poverty

Author : Thorsten Beck,Asl? Demirgüç-Kunt,Ross Levine
Publisher : World Bank Publications
Page : 36 pages
File Size : 53,5 Mb
Release : 2004
Category : Finance
ISBN : 8210379456XXX

Get Book

Finance, Inequality, and Poverty by Thorsten Beck,Asl? Demirgüç-Kunt,Ross Levine Pdf

"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions about the impact of financial development on changes in income distribution and poverty alleviation. We find that financial development reduces income inequality by disproportionately boosting the incomes of the poor. Countries with better-developed financial intermediaries experience faster declines in measures of both poverty and income inequality. These results are robust to controlling for other country characteristics and potential reverse causality"--National Bureau of Economic Research web site.

Author : Thorsten Beck
Publisher : Unknown
Page : 47 pages
File Size : 43,9 Mb
Release : 2010
Category : Electronic
ISBN : OCLC:1290831817

Get Book

Finance, Inequality, and Poverty by Thorsten Beck Pdf

While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions about the impact of financial development on changes in income distribution and poverty alleviation. We find that financial development reduces income inequality by disproportionately boosting the incomes of the poor. Countries with better-developed financial intermediaries experience faster declines in measures of both poverty and income inequality. These results are robust to controlling for other country characteristics and potential reverse causality.

Author : Thorsten Beck,Asli Demirguc-Kunt,Ross Levine
Publisher : Unknown
Page : 128 pages
File Size : 53,8 Mb
Release : 2013
Category : Electronic
ISBN : OCLC:931678579

Get Book

Finance, Inequality, and Poverty by Thorsten Beck,Asli Demirguc-Kunt,Ross Levine Pdf

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.

Author : Mr.Sami Ben Naceur,RuiXin Zhang
Publisher : International Monetary Fund
Page : 28 pages
File Size : 47,6 Mb
Release : 2016-02-19
Category : Business & Economics
ISBN : 9781498359283

Get Book

Financial Development, Inequality and Poverty by Mr.Sami Ben Naceur,RuiXin Zhang Pdf

This paper provides evidence on the link between financial development and income distribution. Several dimensions of financial development are considered: financial access, efficiency, stability, and liberalization. Each aspect is represented by two indicators: one related to financial institutions, and the other to financial markets. Using a sample of 143 countries from 1961 to 2011, the paper finds that four of the five dimensions of financial development can significantly reduce income inequality and poverty, except financial liberalization, which tends to exacerbate them. Also, banking sector development tends to provide a more significant impact on changing income distribution than stock market development. Together, these findings are consistent with the view that macroeconomic stability and reforms that strengthen creditor rights, contract enforcement, and financial institution regulation are needed to ensure that financial development and liberalization fully support the reduction of poverty and income equality.

Author : Mr. Ross Levine
Publisher : International Monetary Fund
Page : 80 pages
File Size : 42,6 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513583365

Get Book

Finance, Growth, and Inequality by Mr. Ross Levine Pdf

Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.

Author : Mr.Martin Cihak,Ms.Ratna Sahay
Publisher : International Monetary Fund
Page : 50 pages
File Size : 46,6 Mb
Release : 2020-01-17
Category : Business & Economics
ISBN : 9781513526546

Get Book

Finance and Inequality by Mr.Martin Cihak,Ms.Ratna Sahay Pdf

The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data covering a wide range of countries, the analysis finds that the financial sector can play a role in reducing inequality, complementing redistributive fiscal policy. By expanding the provision of financial services to low-income households and small businesses, it can serve as a powerful lever in helping create a more inclusive society but—if not well managed—it can amplify inequalities.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 50,6 Mb
Release : 2024-06-15
Category : Electronic
ISBN : 1498360157

Get Book

Financial Development, Inequality and Poverty by Anonim Pdf

Author : William Watson
Publisher : University of Toronto Press
Page : 240 pages
File Size : 54,6 Mb
Release : 2015-09-15
Category : Business & Economics
ISBN : 9781442624955

Get Book

The Inequality Trap by William Watson Pdf

US President Barack Obama has called economic inequality the “defining issue of our time.” It has inspired the “Occupy” movements, made a French economist into a global celebrity, and given us a new expression – the “one percent.” But is our preoccupation with inequality really justified? Or wise? In his new book, William Watson argues that focusing on inequality is both an error and a trap. It is an error because much inequality is “good,” the reward for thrift, industry, and invention. It is a trap because it leads us to fixate on the top end of the income distribution, rather than on those at the bottom who need help most. In fact, if we respond to growing inequality by fighting capitalism rather than poverty, we may end up both poorer and less equal. Explaining the complexities of modern economics in a clear, accessible style, The Inequality Trap is the must-read rejoinder to the idea that fighting inequality should be our top policy priority.

Author : Ms. Valerie Cerra,Mr. Ruy Lama,Norman Loayza
Publisher : International Monetary Fund
Page : 54 pages
File Size : 55,6 Mb
Release : 2021-03-12
Category : Business & Economics
ISBN : 9781513572666

Get Book

Links Between Growth, Inequality, and Poverty: A Survey by Ms. Valerie Cerra,Mr. Ruy Lama,Norman Loayza Pdf

Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.

Author : Ann Harrison
Publisher : University of Chicago Press
Page : 675 pages
File Size : 46,7 Mb
Release : 2007-11-01
Category : Business & Economics
ISBN : 9780226318004

Get Book

Globalization and Poverty by Ann Harrison Pdf

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

Author : Antonio Villar
Publisher : Springer
Page : 171 pages
File Size : 51,6 Mb
Release : 2016-12-24
Category : Business & Economics
ISBN : 9783319455624

Get Book

Lectures on Inequality, Poverty and Welfare by Antonio Villar Pdf

These lectures aim to help readers understand the logics and nature of the main indicators of inequality and poverty, with special attention to their social welfare underpinnings. The key approach consists in linking inequality and poverty measurement with welfare evaluation. As concern for inequality and poverty stems from ethical considerations, the measurement of those aspects necessarily involves some value judgments. Those value judgments can be linked, directly or indirectly, to welfare assessments on the distribution of personal and social opportunities. Inequality and poverty are thus considered to be partial aspects of the welfare evaluation of the opportunities in a given society. The volume includes two applications that illustrate how the models can be implemented. They refer to inequality of opportunity and poverty in education, using PISA data.

Author : Patrick Honohan
Publisher : World Bank Publications
Page : 36 pages
File Size : 50,6 Mb
Release : 2005
Category : Bank failures
ISBN : 8210379456XXX

Get Book

Banking Sector Crises and Inequality by Patrick Honohan Pdf

An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides, the poor are much less able to absorb a cut in income: safety-net policies are crucial during a downturn even if the gap between rich and poor has temporarily narrowed. More fundamentally, distributional shifts during the crisis may be less important than the fact that underlying financial policy and infrastructures conducive to crisis can also be associated with more unequal societies.

Author : Satya R. Chakravarty
Publisher : Springer Science & Business Media
Page : 186 pages
File Size : 46,8 Mb
Release : 2010-07-25
Category : Business & Economics
ISBN : 9780387792538

Get Book

Inequality, Polarization and Poverty by Satya R. Chakravarty Pdf

This book provides a synthesis of some recent issues and an up-to-date treatment of some of the major important issues in distributional analysis that I have covered in my previous book Ethical Social Index Numbers, which was widely accepted by students, teachers, researchers and practitioners in the area. Wide coverage of on-going and advanced topics and their analytical, articulate and authoritative p- sentation make the book theoretically and methodologically quite contemporary and inclusive, and highly responsive to the practical problems of recent concern. Since many countries of the world are still characterized by high levels of income inequality, Chap. 1 analyzes the problems of income inequality measurement in detail. Poverty alleviation is an overriding goal of development and social policy. To formulate antipoverty policies, research on poverty has mostly focused on inco- based indices. In view of this, a substantive analysis of income-based poverty has been presented in Chap. 2. The subject of Chap. 3 is people’s perception about income inequality in terms of deprivation. Since polarization is of current concern to analysts and social decisi- makers, a discussion on polarization is presented in Chap. 4.

Author : Jerry Buckland
Publisher : University of Toronto Press
Page : 289 pages
File Size : 51,9 Mb
Release : 2012-03-30
Category : Social Science
ISBN : 9781442662612

Get Book

Hard Choices by Jerry Buckland Pdf

When low-income city dwellers lack access to mainstream banking services, many end up turning to ‘fringe banks,’ such as cheque-cashers and pawnshops, for some or all of their financial transactions. This predicament of ‘financial exclusion’ – faced by those underserved by conventional financial institutions – is comprehensively examined in Jerry Buckland's powerful study, Hard Choices. The first account of the nature and causes of financial exclusion in Canada, Hard Choices thoroughly integrates economic and social data on consumer choice, bank behaviour, and government policy. Buckland demonstrates why the current two-tier system of banking is becoming increasingly dysfunctional, especially in the context of new credit products that aggravate income inequality and stifle local economic growth. Featuring a foreword by esteemed economics scholar John P. Caskey, Hard Choices presents pragmatic policy improvements on both the public and private levels that can promote and build financial inclusion for all.

Author : Howard Thomas,Yuwa Hedrick-Wong
Publisher : Emerald Group Publishing
Page : 152 pages
File Size : 55,9 Mb
Release : 2019-04-10
Category : Business & Economics
ISBN : 9781789737813

Get Book

Inclusive Growth by Howard Thomas,Yuwa Hedrick-Wong Pdf

The book outlines a journey from enabling models of government and business to strategies for creating both financial and social inclusion and entrepreneurism as mechanisms for sustainable and inclusive growth.