English
 
User Manual Privacy Policy Disclaimer Contact us
  Advanced SearchBrowse

Item

ITEM ACTIONSEXPORT
  Capital account liberalization and income inequality

Bumann, S., & Lensink, R. (2016). Capital account liberalization and income inequality. Journal of International Money and Finance, 61, 143-162. doi:10.1016/j.jimonfin.2015.10.004.

Item is

Basic

show hide
Item Permalink: http://hdl.handle.net/11858/00-001M-0000-0029-C632-2 Version Permalink: http://hdl.handle.net/11858/00-001M-0000-002D-0841-4
Genre: Journal Article

Files

show Files
hide Files
:
Bumann_Lensink_2016.pdf (Publisher version), 476KB
Name:
Bumann_Lensink_2016.pdf
Description:
-
Visibility:
Public
MIME-Type / Checksum:
application/pdf / [MD5]
Technical Metadata:
Copyright Date:
-
Copyright Info:
-
License:
-

Locators

show

Creators

show
hide
 Creators:
Bumann, S.1, Author              
Lensink, R., Author
Affiliations:
1Department Evolutionary Theory, Max Planck Institute for Evolutionary Biology, Max Planck Society, ou_1445641              

Content

show
hide
Free keywords: Capital account liberalization; Gini coefficient; Income distribution
 Abstract: This article makes both a theoretical and an empirical contribution to the literature on financial liberalization and income inequality. In the first part, we develop a tractable model that features agents with varying investment abilities and a banking sector. There are two possible interventions to liberalize the banking sector: first, a reduction in reserve requirements, and, second, an increase in the amount of foreign funds that can be used to finance domestic loans. Financial liberalization leads to enhanced banking sector efficiency and adjustments in interest rates affecting income of investors and savers, and, therefore, income inequality. Theoretically, the impact of financial liberalization on income inequality is ambiguous. Yet, the model suggests that financial liberalization will improve income distribution in countries where financial depth is high. Our empirical estimates confirm this conditional effect. More precisely, the estimates suggest that capital account liberalization only tends to lower income inequality if the level of financial depth, as measured by private credit over GDP, exceeds 25 percent. © 2015 Elsevier Ltd.

Details

show
hide
Language(s): eng - English
 Dates: 2015-11-142016-03
 Publication Status: Published in print
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Method: -
 Identifiers: DOI: 10.1016/j.jimonfin.2015.10.004
BibTex Citekey: bumann_capital_2016
 Degree: -

Event

show

Legal Case

show

Project information

show

Source 1

show
hide
Title: Journal of International Money and Finance
Source Genre: Journal
 Creator(s):
Affiliations:
Publ. Info: -
Pages: 20 Seiten Volume / Issue: 61 Sequence Number: - Start / End Page: 143 - 162 Identifier: ISSN: 0261-5606