Financial development and the distribution of income in Latina America and the Caribbean
REV WSP No.8
Canavire-Bacarreza, Gustavo
Financial development and the distribution of income in Latina America and the Caribbean / editor invitado Pablo Cotler. -- México: CISS: UIA, 2009. 1-18 p. : il; 22 cm. - Semestral - Revista Well-being and Social Policy, Vol. 5, No. 1, First semester 2009 (Financial inclusion in Latin America)
Well-being and social policy ,
Título en español: Desarrollo financiero y la distribución del ingreso en América Latina y el Caribe
Bibliografía p.
One of the central concerns in Latin America an the Caribbean (LAC) has been the reduction of poverty and inequality so prevalent in the continent. Using large world samples, the literature has found that financial development increases economic growth, increases the income of the poor, and reduces inequality. This paper studies the effects of financial development on the whole distribution of income in LAC. We find that the income of the poorest quintile has not been affected by expansion in the financial system. However, we do find that financial development has had a disproportionate positive effect on the incomes of the second, third and fourth quintiles. We also find some evidence for the Greenwood-Jovanovic (1991) hypothesis that this positive effect only begins after a country crosses a certain economic development threshold.
PDF 406 KB
1870-2961
Seguridad social--México--Publicaciones periódicas
Seguridad social--Desarrollo económico--Caribe
Distribución del ingreso--Caribe
Rioja, Félix,
Conferencia Interamericana de Seguridad Social.
Universidad Iberoamericana. Ciudad de México.