The impact of globalization and financial development on India’s income inequality
| Autor: | Pradeepta Sethi, Debkumar Chakrabarti, Chhavi Tiwari, Sankalpa Bhattacharjee |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Inflation
Economics and Econometrics 050208 finance business.industry media_common.quotation_subject 05 social sciences Differential (mechanical device) Financial development Globalization Economic inequality 0502 economics and business Development economics Economics Quality (business) 050207 economics business Emerging markets Financial services media_common |
| Zdroj: | Journal of Policy Modeling. 43:639-656 |
| ISSN: | 0161-8938 |
| DOI: | 10.1016/j.jpolmod.2021.01.002 |
| Popis: | This paper empirically examines the combined effects of globalization and financial development on income inequality in a unified framework for an emerging economy. Using annual data for the Indian economy over the period 1980–2014, we show that the perceived benefits of globalization and financial development have not trickled down; rather, has aggravated income inequality. Our results also indicate that while inflation aggravates income inequality, education seems to alleviate the differential effect. Proactive measures in providing access to financial services, creating equitable employment opportunities, and improving the quality of education are required to offset the negative impacts of globalization and financial development on income disparity. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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