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dc.contributor.author | Bittencourt, Manoel![]() |
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dc.date.accessioned | 2009-11-04T07:02:34Z | |
dc.date.available | 2009-11-04T07:02:34Z | |
dc.date.issued | 2009 | |
dc.description.abstract | We examine the impact of financial development on earnings inequality in Brazil in the 1980s and first half of the 1990s. The evidence—based initially on time-series, and then on the relatively novel panel time-series data and analysis—shows that financial development had a significant and robust effect in reducing inequality during the period. We suggest that this is not only because the poorer can invest the acquired credit in either short or long-term productive activities, but also because those with access to financial markets can insulate themselves, via a process of financial adaptation, against recurrent poor macroeconomic performance, which is exemplified in Brazil by high rates of inflation. The main implication of the results is that a deeper and more active financial sector alleviates the high inequality seen in Brazil without the need for distortionary taxation. | en_US |
dc.identifier.citation | Bittencourt, M 2009, 'Financial development and inequality: Brazil 1985–1994', Economic Change and Restructuring, doi:10.1007/s10644-009-9080-x. [http://www.springerlink.com/content/113294/] | en_US |
dc.identifier.issn | 1573-9414 | |
dc.identifier.other | 10.1007/s10644-009-9080-x | |
dc.identifier.uri | http://hdl.handle.net/2263/11693 | |
dc.language.iso | en | en_US |
dc.publisher | Springer | en_US |
dc.rights | Springer. The original publication is available at www.springerlink.com | en_US |
dc.subject | Financial development | en |
dc.subject | Inequality | en |
dc.subject.lcsh | Equality -- Brazil | en |
dc.subject.lcsh | Brazil -- Economic conditions -- 1985- | en |
dc.subject.lcsh | Earnings management -- Brazil | en |
dc.subject.lcsh | Time-series analysis | en |
dc.subject.lcsh | Macroeconomics | en |
dc.title | Financial development and inequality : Brazil 1985–1994 | en_US |
dc.type | Postprint Article | en_US |