Financial Sector Development and Income Inequality in Vietnam: Evidence at the Provincial Level

Entrepreneurship, Financial, And Economic Development: A Literary Review

“…The curve links inequality with per capita income. The hypothesis is consistent with several results on financial development led growth hypotheses that financial development reduces poverty and income inequality (Uddin et al, 2014;Hoi and Hoi, 2013).…”

“…Research evidence indicate that financial development helps to reduce poverty, but its effect may not be linear. Meanwhile Hoi and Hoi (2013) Confirm that financial sector development has a positive impact on reducing income inequality. Anecdotally, the stock market, owing to the inherent risk profile potential, may also be a catalytic source of poverty.…”

“…As poverty is reduced (Uddin et al, 2014) and income equality enhanced from financial development (Hoi and Hoi, 2013), the growth of personal incomes and wealth of citizens are further enhanced. Enhanced personal income and wealth drives consumption.…”

“…Clearly, this is one of the most important contribution of financial development to the economy of poor countries not only in terms of creating more wealth (Gloede et all, 2013) but most importantly in addressing redistribution of wealth as the most affected people benefiting from the business and social externalities of the developments are the lower income groups (Hoi & Hoi, 2013;Uddin&Shahbaz, 2014).…”

Determinants of Income Inequality in Indonesia: Case Study of 33 Provinces in 2011-2016

“…In Vietnam, there was evident that demonstrate how the impact of financial development and education with the declining of income inequality (Hoi and Hoi, 2013). The financial development opens a credit access for several purposes such as education for the low-income groups.…”