The paper introduces a new specification of the Kuznets curve, where turning point per capita income is conditioned on the level of financial development. We then provide new evidence on income inequality dynamics for the euro area (EA) countries since the mid-1980s. We find evidence in favor of an EA-wide financial Kuznets curve, also resilient to the recent financial and economic crises. From a policy perspective, our findings highlight the importance of financial development in fostering not only economic growth, but also a more even distribution of income.

The financial Kuznets curve: Evidence for the euro area / Baiardi, Donatella; Morana, Claudio. - In: JOURNAL OF EMPIRICAL FINANCE. - ISSN 0927-5398. - 39(2016), pp. 265-269. [10.1016/j.jempfin.2016.08.003]

The financial Kuznets curve: Evidence for the euro area

BAIARDI, DONATELLA;
2016

Abstract

The paper introduces a new specification of the Kuznets curve, where turning point per capita income is conditioned on the level of financial development. We then provide new evidence on income inequality dynamics for the euro area (EA) countries since the mid-1980s. We find evidence in favor of an EA-wide financial Kuznets curve, also resilient to the recent financial and economic crises. From a policy perspective, our findings highlight the importance of financial development in fostering not only economic growth, but also a more even distribution of income.
The financial Kuznets curve: Evidence for the euro area / Baiardi, Donatella; Morana, Claudio. - In: JOURNAL OF EMPIRICAL FINANCE. - ISSN 0927-5398. - 39(2016), pp. 265-269. [10.1016/j.jempfin.2016.08.003]
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11381/2824697
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