Staff View: Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?

Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?

This study offers new insights for policymakers to reduce income inequality, thus ensuring economic growth which greatly benefits the poor segment of population and directing financial sector to provide easy access to financial resources for lower income group at cheaper cost. Bound test was applied...

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Main Authors:	Ridzuan A.R., Zakaria S., Fianto B.A., Yusoff N.Y.M., Sulaiman N.F.C., Razak M.I.M., Siswantini, Lestari A.
Other Authors:	57201919567
Format:	Article
Published:	Econjournals 2023
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id	my.uniten.dspace-26592
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spelling	my.uniten.dspace-265922023-05-29T17:12:25Z Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines? Ridzuan A.R. Zakaria S. Fianto B.A. Yusoff N.Y.M. Sulaiman N.F.C. Razak M.I.M. Siswantini Lestari A. 57201919567 57191246918 57195944492 55812094300 57202781532 56082168700 57215217160 57219574864 This study offers new insights for policymakers to reduce income inequality, thus ensuring economic growth which greatly benefits the poor segment of population and directing financial sector to provide easy access to financial resources for lower income group at cheaper cost. Bound test was applied to examine the long-run and short-run relationships based on the sample period beginning from 1970 until 2016. The results confirmed the existence of a long-run relationship between the variables. Financial development in Malaysia, Indonesia and Thailand had successfully reduced income inequality, however, a different effect was recorded in the Philippines where income distribution was worsened. Furthermore, economic growth brought positive effect to income distribution in Malaysia and Indonesia, but not for Thailand and the Philippines. Inflation, trade openness and foreign direct investment, provided mixed results for all countries. Among the policies recommendation for this paper are there should be more easy accessibility for entrepreneurs to reach the wide range of financial services including conventional and Islamic financial products, the expansion of capital market, as well as giving proper attention to the financial sector. Besides, granting the access to capital markets for low income groups or underprivileged individuals might be helpful to them either by developing entrepreneurial skill or involvement in productive activities and receive better salaries. This policy will give insight to the policymakers to strengthen their financial institutions, especially during the pandemic of Covid-19 . � 2021, Econjournals. All rights reserved. Final 2023-05-29T09:12:25Z 2023-05-29T09:12:25Z 2021 Article 10.32479/ijeep.10616 2-s2.0-85100343722 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85100343722&doi=10.32479%2fijeep.10616&partnerID=40&md5=551b836a86bf70fc53603e520501acde https://irepository.uniten.edu.my/handle/123456789/26592 11 2 260 271 All Open Access, Gold, Green Econjournals Scopus
institution	Universiti Tenaga Nasional
building	UNITEN Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Tenaga Nasional
content_source	UNITEN Institutional Repository
url_provider	http://dspace.uniten.edu.my/
description	This study offers new insights for policymakers to reduce income inequality, thus ensuring economic growth which greatly benefits the poor segment of population and directing financial sector to provide easy access to financial resources for lower income group at cheaper cost. Bound test was applied to examine the long-run and short-run relationships based on the sample period beginning from 1970 until 2016. The results confirmed the existence of a long-run relationship between the variables. Financial development in Malaysia, Indonesia and Thailand had successfully reduced income inequality, however, a different effect was recorded in the Philippines where income distribution was worsened. Furthermore, economic growth brought positive effect to income distribution in Malaysia and Indonesia, but not for Thailand and the Philippines. Inflation, trade openness and foreign direct investment, provided mixed results for all countries. Among the policies recommendation for this paper are there should be more easy accessibility for entrepreneurs to reach the wide range of financial services including conventional and Islamic financial products, the expansion of capital market, as well as giving proper attention to the financial sector. Besides, granting the access to capital markets for low income groups or underprivileged individuals might be helpful to them either by developing entrepreneurial skill or involvement in productive activities and receive better salaries. This policy will give insight to the policymakers to strengthen their financial institutions, especially during the pandemic of Covid-19 . � 2021, Econjournals. All rights reserved.
author2	57201919567
author_facet	57201919567 Ridzuan A.R. Zakaria S. Fianto B.A. Yusoff N.Y.M. Sulaiman N.F.C. Razak M.I.M. Siswantini Lestari A.
format	Article
author	Ridzuan A.R. Zakaria S. Fianto B.A. Yusoff N.Y.M. Sulaiman N.F.C. Razak M.I.M. Siswantini Lestari A.
spellingShingle	Ridzuan A.R. Zakaria S. Fianto B.A. Yusoff N.Y.M. Sulaiman N.F.C. Razak M.I.M. Siswantini Lestari A. Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
author_sort	Ridzuan A.R.
title	Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
title_short	Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
title_full	Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
title_fullStr	Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
title_full_unstemmed	Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
title_sort	nexus between financial development and income inequality before pandemic covid-19: does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?
publisher	Econjournals
publishDate	2023
_version_	1806426590576377856
score	13.211869

Nexus between financial development and income inequality before pandemic covid-19: Does financial kuznets curve exist in malaysia, indonesia, thailand and philippines?

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