The present research paper is designed to explore the role of financial development indicators on income inequality in Australia using yearly data from 1980 to 2014. Our study also accounts for other potential determinants of income inequality such as inflation, per capita income and trade openness. Our results from Bayer and Hanck (2013) cointegration test confirm the longrun equilibrium relationship across the models. Similarly, the long-run estimates from the quantile regression models and non-parametric approach indicate that the financial development indicators, FDI inflows, inflation, and trade openness have significant positive impact on income inequality in Australia. However, the growth in per capita income plays the opposite role. Given these findings, our study offers numerous policy and practical implications and adds an important value to the empirical literature on the nexus between financial development and income inequality.

This research paper is the first of its kind to consider the financial inclusion, which is constructed using the depth, access and efficiency of the financial institutions and markets, and various aspects of tourism development such as business tourism spending, direct tourism contribution, domestic tourism spending, total internal tourism expenses, leisure tourism spending and total tourism contribution. Given the growing importance of financial inclusion in the recent time, this paper is designed to investigate the role of financial inclusion on various dimensions of tourism development across the panels of 24 advanced and 21 emerging economies around the world, using yearly data from 1995 to 2016. Given the presence of cross-sectional dependence in the data series, we employ Augmented Mean Group (AMG) estimator as it is a robust technique to handle this issue in the estimation.The evidences show that financial inclusion has a significant positive impact on various aspects of tourism development across the panels. The results also suggest that the impact is more in emerging economies than that of advanced economies. Hence, this paper offers numerous policy and practical suggestions for sustainable tourism management.