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dc.contributor.authorAmountzias, Chrysovalantis
dc.date.accessioned2018-10-29T02:08:13Z
dc.date.available2018-10-29T02:08:13Z
dc.date.issued2019-01-01
dc.identifier.citationAmountzias , C 2019 , ' An investigation of the effects of income inequality on financial fragility: Evidence from Organization for Economic Co‐operation and Development countries ' , International Journal of Finance and Economics , vol. 24 , no. 1 , pp. 241-259 . https://doi.org/10.1002/ijfe.1660
dc.identifier.issn1099-1158
dc.identifier.otherPURE: 15553978
dc.identifier.otherPURE UUID: 258b0873-4bae-491e-9d76-7965133ccc2f
dc.identifier.otherScopus: 85055151465
dc.identifier.otherORCID: /0000-0002-7013-7032/work/62750770
dc.identifier.urihttp://hdl.handle.net/2299/20759
dc.description.abstractThe main scope of the paper is to investigate the proposition that rising income inequality results in systemic financial instability in developed countries. In particular, 33 OECD (Organization for Economic Co‐operation and Development) countries are studied in a panel Vector Autoregression (VAR) framework analysis over 1995–2015. There is a growing literature on the effects of income inequality on financial crises. This study provides significant evidence in favour of a positive relationship between income inequality and financial fragility, when particular factors are controlled for. Complementary findings also suggest that (a) debt accumulation in the private sector significantly depends on credit expansion, (b) the debt levels of the private sector and households co‐move over time, and (c) financial deregulation significantly contributes to financial instability. Therefore, policymakers should take into account regulatory reforms that will promote institutional and financial innovations to restrict debt accumulation and render the financial system more robust to destabilising shocks.en
dc.format.extent19
dc.language.isoeng
dc.relation.ispartofInternational Journal of Finance and Economics
dc.rightsEmbargoed
dc.subjectdebt accumulation
dc.subjectfinancial deregulation
dc.subjectfinancial instability
dc.subjectincome inequality
dc.subjectOECD
dc.subjectAccounting
dc.subjectFinance
dc.subjectEconomics and Econometrics
dc.titleAn investigation of the effects of income inequality on financial fragility: Evidence from Organization for Economic Co‐operation and Development countriesen
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionDepartment of Accounting, Finance and Economics
dc.contributor.institutionOrganisation, Markets and Policy Research Group
dc.description.statusPeer reviewed
dc.date.embargoedUntil2020-10-18
dc.identifier.urlhttp://www.scopus.com/inward/record.url?scp=85055151465&partnerID=8YFLogxK
dc.relation.schoolHertfordshire Business School
dc.description.versiontypeFinal Accepted Version
dcterms.dateAccepted2019-01-01
rioxxterms.versionAM
rioxxterms.versionofrecordhttps://doi.org/10.1002/ijfe.1660
rioxxterms.licenseref.uriOther
rioxxterms.licenseref.startdate2020-10-18
rioxxterms.typeJournal Article/Review
herts.preservation.rarelyaccessedtrue
herts.date.embargo2020-10-18
herts.rights.accesstypeEmbargoed


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