Financial development, technological innovation and urban-rural income gap: Time series evidence from China.

Autor: Wang LM; College of Geographical Sciences, Harbin Normal University, Harbin, China.; Key Laboratory of Remote Sensing Monitoring of Geographic Environment of Heilongjiang Province, Harbin Normal University, Harbin, China., Wu XL; College of Geographical Sciences, Harbin Normal University, Harbin, China.; Key Laboratory of Remote Sensing Monitoring of Geographic Environment of Heilongjiang Province, Harbin Normal University, Harbin, China., Chu NC; College of Geographical Sciences, Harbin Normal University, Harbin, China.; Key Laboratory of Remote Sensing Monitoring of Geographic Environment of Heilongjiang Province, Harbin Normal University, Harbin, China.
Jazyk: angličtina
Zdroj: PloS one [PLoS One] 2023 Feb 10; Vol. 18 (2), pp. e0279246. Date of Electronic Publication: 2023 Feb 10 (Print Publication: 2023).
DOI: 10.1371/journal.pone.0279246
Abstrakt: The main purpose of the paper is to investigate the relationship between technological innovation and income inequality for China based on the financial Kuznets curve (FKC) hypothesis. The study uses time-series data from 1985 to 2019. We employ the Johansen cointegration, ARDL model and VECM Granger causality techniques to analyze the links between the variables. We also use the DOLS, FMOLS and CCR mechanisms to estimate the long-run parameters. The paper finds that the FKC is valid for China's economy in the long run. Technological innovation positively affects the urban-rural income gap, while there is an inverted-U shaped between financial development and the urban-rural income gap. The relationship between financial development and the urban-rural income gap is bi-directional causality. Technological innovation and the urban-rural income gap cause each other. Empirical results suggest a twofold policy meaning: i) to further the financial system and ii) to eliminate the adverse impacts of technological innovations on income distribution.
Competing Interests: The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
(Copyright: © 2023 Wang et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)
Databáze: MEDLINE
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