2023
DOI: 10.1002/ijfe.2809
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Income distribution, financial liberalisations and banking stability: Theory and international evidence

Abstract: Motivated by Rajan's study and existing economic reform theories (especially the lobby theory), we highlight income inequality as a driver of financial liberalisations. However, no evidence yet supports this idea. To verify this liberalisation‐induced‐by‐inequality hypothesis, the nexus of income inequality and financial liberalisations is formalised and empirically investigated in this paper. We utilise an ordered logit model with two‐way fixed effects and panel data from 91 countries to conduct the analyses.… Show more

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