Share

Capital Account Liberalization and Inequality

2015-11-24 Business & Economics
Download Capital Account Liberalization and Inequality PDF Online Free

Author :
Release : 2015-11-24
Genre : Business & Economics
Kind : eBook
Book Rating : 409/5 ( reviews)

GET EBOOK


Book Synopsis Capital Account Liberalization and Inequality by : Davide Furceri

Download or read book Capital Account Liberalization and Inequality written by Davide Furceri. This book was released on 2015-11-24. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also find that the level of financial development and the occurrence of crises play a key role in shaping the response of inequality to capital account liberalization reforms.

Capital Account Liberalization and Wage Inequality: Evidence from Firm Level Data

2023-03-03 Business & Economics
Download Capital Account Liberalization and Wage Inequality: Evidence from Firm Level Data PDF Online Free

Author :
Release : 2023-03-03
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Capital Account Liberalization and Wage Inequality: Evidence from Firm Level Data by : Kodjovi M. Eklou

Download or read book Capital Account Liberalization and Wage Inequality: Evidence from Firm Level Data written by Kodjovi M. Eklou. This book was released on 2023-03-03. Available in PDF, EPUB and Kindle. Book excerpt: Firms play an important role in shaping income inequality at the aggregated country level, given that wages represent a significant proportion of household income. We investigate the distributional consequences of capital account liberalization, relying on firm level data to explore the implications for betweenfirms earning inequality in ASEAN5 countries over the period 1995-2019. We find that between-firms wage dispersion alone, accounts for a nontrivial proportion of the variation in the market Gini. Our empirical findings show that capital account liberalization increases between-firms wage inequality, as wages grow faster at initially high-paying firms and slow-down at firms at the lower portion of the wage distribution. These results are robust to a battery of robustness checks. Further, the directions and categories of capital account liberalization matter as results are pronounced for inflow liberalization and equity capital flows. We also show that capital account liberalization induces an increase in Profit-to-Wage ratios. Furthermore, the impact depends on country characteristics (wage setting institutions, the level of financial development and the size of the informal sector) as well as industry characteristics (export orientation and external finance dependence).

Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword

2021-01-08 Business & Economics
Download Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword PDF Online Free

Author :
Release : 2021-01-08
Genre : Business & Economics
Kind : eBook
Book Rating : 385/5 ( reviews)

GET EBOOK


Book Synopsis Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword by : Mr.Barry J. Eichengreen

Download or read book Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword written by Mr.Barry J. Eichengreen. This book was released on 2021-01-08. Available in PDF, EPUB and Kindle. Book excerpt: We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.

Capital Account Liberalisation Does Worsen Income Inequality

2020
Download Capital Account Liberalisation Does Worsen Income Inequality PDF Online Free

Author :
Release : 2020
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Capital Account Liberalisation Does Worsen Income Inequality by : Xiang Li

Download or read book Capital Account Liberalisation Does Worsen Income Inequality written by Xiang Li. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between capital account liberalisation and income inequality. Adopting a novel identification strategy, namely a difference-in-difference estimation combined with propensity score matching between the liberalised and closed countries, we provide robust evidence that opening the capital account is associated with an adverse impact on income inequality in developing countries. The main findings are threefold. First, fully liberalising the capital account is associated with a small rise of 0.07-0.30 standard deviations in the Gini coefficient in the short-run and a rise as large as 0.32-0.62 standard deviations in the ten years after liberalisation, on average. Second, widening income inequality is the outcome of the growing income share of the rich at the cost of the poor. The long-term effect of capital account liberalisation includes a reduction in the income share of the poorest half by 2.66-3.79 percentage points and an increase in the income share of the richest 10% by 5.19-8.76 percentage points. Third, the directions and categories of capital account liberalisation matter. Inward capital account liberalisation is more detrimental to income equality than outward capital account liberalisation, and free access to the international equity market exacerbates income inequality the most, while foreign direct investment has an insignificant impact on inequality.

Capital Account Liberalization & Income Inequality

2016 Income distribution
Download Capital Account Liberalization & Income Inequality PDF Online Free

Author :
Release : 2016
Genre : Income distribution
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Capital Account Liberalization & Income Inequality by : Jess Esplin

Download or read book Capital Account Liberalization & Income Inequality written by Jess Esplin. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt:

You may also like...