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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
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Finance and wealth inequality, Journal of International Money and Finance November (2020). Hasan, Iftekhar; Horvath, Roman; Mares, Jan

Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Hasan, Iftekhar; Horvath, Roman; Mares, Jan 
Number of authors
Status Published
Year of publication 2020 
Date 03.03.2020 
Name of article Finance and wealth inequality 
Name of journal Journal of International Money and Finance
Volume of issue 108 
Number of issue November 
Abstract 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 matters 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.
Free text descriptor in Finnish varallisuus; tulonjako; indikaattorit; mallit 
Free text descriptor in English Bayesian model averaging; Finance; Wealth inequality 
JEL-codes D31, E21 
ISSN / e-ISSN 0261-5606 
auki Internet addresses
Open Access Not known