Citation
Abstract
This paper investigates how financial inclusion impacts income inequality by considering the role of an aging population as a moderator in 73 developing countries from 2004 to 2019. The generalized method of moments (GMM) estimator results reveal that financial inclusion and an aging population are insignificant determinants of income inequality. Nevertheless, the interaction effect between both variables on income inequality is substantial in these countries. Meanwhile, the empirical findings of a panel quantile regression indicate that financial inclusion and an aging population are significant determinants of reducing income inequality at low quantile levels. The aging population is essential in moderating the relationship between financial inclusion and income inequality, especially in increasing the income gap when countries’ inequality is lower; however, the coefficient values showed a downward-sloping trend toward high quantiles.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | School of Business and Economics |
| DOI Number: | https://doi.org/10.1016/j.ribaf.2023.102110 |
| Publisher: | Elsevier Inc. |
| Keywords: | Financial inclusion; Aging population; Income inequality; Panel data; Generalized method of moments; Quantile regression; Developing countries; International business; Finance; Policy implications; Empirical findings; Research; Economic development; Social problems; Wealth inequality; Sustainable development |
| Depositing User: | Mr. Mohamad Syahrul Nizam Md Ishak |
| Date Deposited: | 27 Mar 2024 01:13 |
| Last Modified: | 27 Mar 2024 01:13 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1016/j.ribaf.2023.102110 |
| URI: | http://psasir.upm.edu.my/id/eprint/105869 |
| Statistic Details: | View Download Statistic |
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