Impact of Financial Developments on Poverty and Inequality in OPEC Countries

Casual relationship between financial developments and economic growth is one of the striking empirical macroeconomic relationships. Following the development of financial issues, our attention turns from economic growth to another issue of economic welfare. In this study, we try to examine the rela...

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Bibliographic Details
Published in:Pizhūhishhā-yi iqtiṣādī (Print) 2009-10, Vol.9 (3), p.29-51
Main Authors: Abbas Assari, alireza naseri, majid aghaei
Format: Article
Language:per
Subjects:
financial developments
generalized method of moments
poverty and inequality
static and dynamic panel data model
Online Access:Get full text
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Summary:Casual relationship between financial developments and economic growth is one of the striking empirical macroeconomic relationships. Following the development of financial issues, our attention turns from economic growth to another issue of economic welfare. In this study, we try to examine the relationship between financial developments, economic growth, poverty and inequality in OPEC countries. The simulation of the models and statistical inferences, in this study, are based on the static and dynamic panel data approach. The empirical models are estimated by using GMM estimators, fixed effects and random effects using the data between 1990 and 2004. The results of this study show that financial developments through its effect on economic growth can mainly contribute poverty alleviation and inequality reduction in these countries.
ISSN:1735-6768
2980-7832