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The relationship between financial development and economic growth rate is well established in the economics literature. However, the impact of financial development, in public and privet sectors, on income inequalities, still requires more investigation. Income inequality is one of the most economic challenges facing most countries. In this research project, we replicate the study of the financial development’s impact on income inequality in India (Ang, 2010) in order to shed light on the same phenomenon in other middle eastern countries (e.g., Iran). We will aim to curate and analyze an annual time series data for a period of time and compare our results with those reported in the original study. The project will share details of the empirical framework proposed in the original research projects and our modification thereof. The findings of this project will provide insights on the role of financial development plays in determining income inequality and distribution in the countries included in the sample data set.
Vaez, Sara, "Financial Development and Inequality in Middle East Countries: A Panel Data Approach" (2020). Economics. 5.