Banking development, socioeconomic structure and income inequality

被引：28

作者：

D'Onofrio, Alexandra ^{[1
]}

Minetti, Raoul ^{[2
]}

Murro, Pierluigi ^{[3
]}

机构：

[1] Casmef Luiss Univ, Rome, Italy

[2] Michigan State Univ, E Lansing, MI 48824 USA

[3] Lumsa Univ, Rome, Italy

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 2019年 / 157卷

关键词：

Income inequality; Financial development; Socioeconomic structure; FINANCIAL DEVELOPMENT; LENDING RELATIONSHIPS; INFORMED FINANCE; ECONOMIC-GROWTH; CREDIT; DISTANCE; MATTER; MODEL; CONSTRAINTS; THRESHOLDS;

D O I：

10.1016/j.jebo.2017.08.006

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using rich, unique data from the Italian local credit markets (provinces), this paper investigates the impact of local banking development on income inequality and the role of the socioeconomic structure in this link. Exploiting the Italian historical banking regulation to instrument for the local presence of bank branches, we find that local banking development mitigates income inequality. However, the finance-inequality nexus manifests itself only in relatively advanced areas. When we study the structural channels of influence, we uncover evidence that banking development can reduce inequality by affecting geographical mobility and urbanization, while it has modest effects through the development of material infrastructures and human capital. (C) 2017 Elsevier B.V. All rights reserved.

引用

页码：428 / 451

页数：24