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Financial development and the distribution of income in Latina America and the Caribbean editor invitado Pablo Cotler

Por: Colaborador(es): Tipo de material: TextoTextoIdioma: Inglés Series Financial inclusion in Latin AmericaDetalles de publicación: México CISS UIA 2009Descripción: 1-18 p. il 22 cmISSN:
  • 1870-2961
Tema(s): Clasificación CDD:
  • REV WSP No.8
Recursos en línea: En: Conferencia Interamericana de Seguridad Social Well-being and social policyResumen: 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.
Tipo de ítem: Artículo de revista
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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.

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