Finanzas y desigualdad: nueva evidencia de una selección de países

It is noteworthy that a relationship exists between increasing income inequality and global financial development. The primary objective of this study is to challenge the validity of the financial Kuznets curve by employing the panel data method for high-income, upper-middle-income, lower-middle-income, and all countries from 2010 to 2021. Empirical findings suggest that the invalidity of the relevant curve for these markets may vary after accounting for the effects of additional control variables. The literature identifies several key factors contributing to income inequality, typically including levels of growth, education, openness, public spending, foreign direct investment, urbanization, structural transformation, and technological development. These factors are also considered in this study as control variables. This study demonstrates the importance of examining the heterogeneous effects of financial development on income inequality across different country groups. ---------------------------------------------------------------------------------------------------------