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https://doi.org/10.47305/JLIA2393298qk
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The effect of financial development on income inequality
[Zeitschriftenartikel]
Abstract The imperative goal of attaining sustainable development necessitates mitigating income inequality and bolstering access to financial institutions. This research explores the influence of an array of independent variables, namely credit demand, GDP per capita, inflation, government consumption expen... mehr
The imperative goal of attaining sustainable development necessitates mitigating income inequality and bolstering access to financial institutions. This research explores the influence of an array of independent variables, namely credit demand, GDP per capita, inflation, government consumption expenditure, and education, on the Gini coefficient across the EU’s 27 Member States from 2008 to 2019. The investigation procured secondary data from the esteemed international entity, the World Bank, with 324 observations belonging to the panel type. Because of the utilization of panel data, this study implemented various econometric models, commencing with the OLS model, followed by the fixed effects model (FE) and random effects model (RE). According to the outcomes of the econometric models, credit demand and education positively impact income inequality. At the same time, GDP per capita, inflation, and government consumption expenditures have a negative effect on income inequality. Additionally, the findings demonstrate the significant impact of credit demand, GDP per capita, inflation, and government consumption expenditures on income inequality.... weniger
Thesaurusschlagwörter
Inflation; Bildung; EU; nachhaltige Entwicklung; Einkommensunterschied
Klassifikation
Wirtschaftspolitik
Freie Schlagwörter
Gini Coefficient; Demand for Credit; GDP Per Capita; Government Consumption Expenditure
Sprache Dokument
Englisch
Publikationsjahr
2023
Seitenangabe
S. 299-312
Zeitschriftentitel
Journal of Liberty and International Affairs, 9 (2023) 3
ISSN
1857-9760
Status
Veröffentlichungsversion; begutachtet (peer reviewed)