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Financial liberalization and income inequality : Evidence from rural China

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Frame of Image o sponsor and support cheap credit to farmers, various rural financial institutions have been established, including microfinance institutions (MFIs), member-owned financial institutions, post office savings banks, etc. • However, the effects of many interventions are mixed or even disappointing (Hoff and Stiglitz, 1990; Meyer, 2011). • Developing an appropriate model for the provision of rural finance is pivotal to the policy makers who aim to establish a healthy and self-sustainable rural financial market.
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Situation in China
• Quick economic growth, dramatic poverty reduction, and widening income inequality • The rural-urban gap is one of the most important contributors to the nation-wide income inequality (Sicular et al., 2007; Luo et al., 2018) • Since 2003, China has implemented a series of liberalization measures to rejuvenate the rural financial sector • This paper evaluates the impact of this rural financial liberalization on income inequality
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Evolution of Gini coefficient in China
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Research Questions
• Does rural financial liberalization affect the income inequality in China? • Who won and perhaps who lost from this liberalization in rural China? • What are the potential channels through which the policy took effect, and how important those channels are?
Relevant literature
• The relationship between financial development and income distribution
• Greenwood and Jovanovic (1990) predicts an inverse-U shape relationship between the financial development and income


Full Text
Title Financial liberalization and income inequality
Similar Titles
Sub Title

Evidence from rural China

Material Type Report
Author(English)

Bihong Huang

Publisher

Asian Development Bank

Date 2020-09
Event The frontiers in development policy conference 2020 (Online)
Subject Country China(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding Asian Development Bank
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