Subgroups Evidence on Banks, Stock Markets and Poverty Alleviation
Journal Title: International Journal of Business and Management Invention - Year 2019, Vol 8, Issue 1
Abstract
The aim of this paper is to test the impact of banking and stock market development on different poverty indicators, between 1981 and 2013. To this end, we used the Generalized Moment Method (GMM)system. Our sample consists of 75 countries, which we divided into four subgroups according to their Gross Domestic Product (GDP). Our results show that, overall, the impact of financial development (FD) on poverty is sensitive to the countrygroup and the structure of the adopted financial system. Unlike the middleincome group, the financial system of low-income countries does not improve the poor living conditions. For the upper middle-income group and the high-income group, the banking system is pro-poor, but the stock exchange system seems to play against the poor.
Authors and Affiliations
Nasreddine Kaidi, Sami Mensi, Sara Alhussini
Keywords
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