{
  "title": "Financial Development, Inequality and Poverty: Some International Evidence",
  "publication": "IMF Working Papers, February 19, 2016",
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  "summary": "This paper provides evidence on the link between financial development and income distribution. Several dimensions of financial development are considered: financial access, efficiency, stability, and liberalization.",
  "sections": [
    {
      "heading": "Summary and main findings",
      "content": "- The paper examines the link between financial development and income distribution across several dimensions: financial access, efficiency, stability, and liberalization.\n- Each dimension is represented by two indicators: one related to financial institutions and the other to financial markets.\n- Using a sample of 143 countries from 1961 to 2011, the paper finds that four of the five dimensions of financial development can significantly reduce income inequality and poverty; financial liberalization is the exception and tends to exacerbate inequality and poverty.\n- Banking sector development tends to provide a more significant impact on changing income distribution than stock market development."
    },
    {
      "heading": "Methodology and data",
      "content": "- Sample: 143 countries.\n- Time period: 1961 to 2011.\n- Dimensions analyzed: financial access, efficiency, stability, liberalization (each with one institutions indicator and one markets indicator)."
    },
    {
      "heading": "Key statistics and publication metadata",
      "content": "- Pages: 28\n- Volume: 2016\n- Issue: 032\n- Series: Working Paper No. 2016/032\n- DOI: https://doi.org/10.5089/9781498359283.001\n- Stock No: WPIEA2016032\n- ISBN: 9781498359283\n- ISSN: 1018-5941\n- Author: RuiXin Zhang\n- Publication date: February 19, 2016"
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Findings are consistent with the view that macroeconomic stability and reforms are needed to ensure financial development and liberalization support reductions in poverty and income inequality.\n- Specific reform areas highlighted:\n  - Strengthening creditor rights.\n  - Improving contract enforcement.\n  - Enhancing financial institution regulation."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Financial sector development, Income distribution, Income inequality, Poverty, Stock markets\n- Keywords: income, price index, WP\n\nSource: IMF Working Papers — \"Financial Development, Inequality and Poverty: Some International Evidence\" by RuiXin Zhang (February 19, 2016).\n\n---\n\n Content in this bundle\n\n- wp1632\n  - wp1632 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp1632 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/financial-development-inequality-and-poverty-some-international-evidence-43718"
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    "Authors: RuiXin Zhang",
    "Published: February 19, 2016",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781498359283.001",
    "The paper examines the link between financial development and income distribution across several dimensions: financial access, efficiency, stability, and liberalization.",
    "Each dimension is represented by two indicators: one related to financial institutions and the other to financial markets.",
    "Using a sample of 143 countries from 1961 to 2011, the paper finds that four of the five dimensions of financial development can significantly reduce income inequality and poverty; financial liberalization is the exception and tends to exacerbate inequality and poverty.",
    "Banking sector development tends to provide a more significant impact on changing income distribution than stock market development.",
    "Sample: 143 countries.",
    "Time period: 1961 to 2011.",
    "Dimensions analyzed: financial access, efficiency, stability, liberalization (each with one institutions indicator and one markets indicator).",
    "Pages: 28",
    "Volume: 2016",
    "Issue: 032",
    "Series: Working Paper No. 2016/032",
    "DOI: https://doi.org/10.5089/9781498359283.001",
    "Stock No: WPIEA2016032",
    "ISBN: 9781498359283",
    "ISSN: 1018-5941",
    "Author: RuiXin Zhang",
    "Publication date: February 19, 2016",
    "Findings are consistent with the view that macroeconomic stability and reforms are needed to ensure financial development and liberalization support reductions in poverty and income inequality.",
    "Specific reform areas highlighted:",
    "Subject: Financial sector development, Income distribution, Income inequality, Poverty, Stock markets",
    "Keywords: income, price index, WP",
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