02139cas a2200253 a 4500 AALejournalIMF016632 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498359283 1018-5941 BD-DhAAL BD-DhAAL Ben Naceur, Sami. Financial Development, Inequality and Poverty : Some International Evidence / Sami Ben Naceur, RuiXin Zhang. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Each aspect 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, except financial liberalization, which tends to exacerbate them. Also, banking sector development tends to provide a more significant impact on changing income distribution than stock market development. Together, these findings are consistent with the view that macroeconomic stability and reforms that strengthen creditor rights, contract enforcement, and financial institution regulation are needed to ensure that financial development and liberalization fully support the reduction of poverty and income equality. Mode of access: Internet Zhang, RuiXin. IMF Working Papers; Working Paper ; No. 2016/032 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/032/001.2016.issue-032-en.xml IMF e-Library