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Is financial development narrowing the urban–rural income gap? A cross‐regional study of China

2019; Elsevier BV; Volume: 98; Issue: 4 Linguagem: Inglês

10.1111/pirs.12428

1435-5957

Chi‐Wei Su, Yu Song, Ye‐Ting Ma, Ran Tao,

Income, Poverty, and Inequality

Papers in Regional ScienceVolume 98, Issue 4 p. 1779-1800 FULL ARTICLE Is financial development narrowing the urban–rural income gap? A cross-regional study of China Chi-Wei Su, Chi-Wei Su School of Economics, Qingdao University, ChinaSearch for more papers by this authorYu Song, Corresponding Author Yu Song 562913812@qq.com Department of Finance, Ocean University of China, China Correspondence Yu Song, Department of Finance, Ocean University of China, Qingdao, Shandong, China. Address: 238 Songlin Road, Qingdao, Shandong, China. Email: 562913812@qq.comSearch for more papers by this authorYe-Ting Ma, Ye-Ting Ma Department of Finance, Qingdao University, ChinaSearch for more papers by this authorRan Tao, Ran Tao Qingdao Municipal Center for Disease Control & Preventation, Qingdao, ChinaSearch for more papers by this author Chi-Wei Su, Chi-Wei Su School of Economics, Qingdao University, ChinaSearch for more papers by this authorYu Song, Corresponding Author Yu Song 562913812@qq.com Department of Finance, Ocean University of China, China Correspondence Yu Song, Department of Finance, Ocean University of China, Qingdao, Shandong, China. Address: 238 Songlin Road, Qingdao, Shandong, China. Email: 562913812@qq.comSearch for more papers by this authorYe-Ting Ma, Ye-Ting Ma Department of Finance, Qingdao University, ChinaSearch for more papers by this authorRan Tao, Ran Tao Qingdao Municipal Center for Disease Control & Preventation, Qingdao, ChinaSearch for more papers by this author First published: 30 January 2019 https://doi.org/10.1111/pirs.12428Citations: 15Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Abstracten This paper investigates the causal relationship between financial development and the urban–rural income gap in China. Using a bootstrap Granger panel causality analysis, the result indicates that financial development influences urban–rural income gap mainly in Eastern China. The high level of financial development in this region enables rural areas to increase its income. Our results also confirm the existence of the financial Kuznets curve in Eastern China where urban–rural income gap would be first increased and afterwards decreased by financial development. The financial development itself is not dependent on urban–rural income gap as it largely depends on government policies and economic growth. Resumenes Este artículo investiga la relación causal entre el desarrollo financiero y la brecha salarial entre las zonas urbanas y rurales de China. El estudio empleó un análisis de causalidad de Granger con bootstrap sobre datos de panel y el resultado indica que el desarrollo financiero influye en la brecha salarial entre las zonas urbanas y rurales, principalmente en el este de China. El alto nivel de desarrollo financiero de esta región permite a las zonas rurales aumentar sus ingresos. Nuestros resultados confirman también la existencia de la curva financiera de Kuznets en el este de China, donde la brecha salarial entre las zonas urbanas y rurales aumentaría primero con el desarrollo financiero, para disminuir a continuación. El desarrollo financiero en sí mismo no depende de la brecha salarial entre las zonas urbanas y rurales, ya que depende en gran medida de las políticas gubernamentales y del crecimiento económico. 抄録:ja 本稿では、中国における、金融発展と都市部と農村部の収入格差との因果関係について検討する。ブートストラップ法によるGranger パネル因果性検定により解析したところ、結果から、主に中国東部において、金融発展が都市部と農村部の収入格差に影響を与えていることが示された。中国東部における高度な金融発展により農村部の収入が増加している。また、この結果から、中国東部の金融発展では、はじめは都市部と農村部の収入の格差が拡大し、その後に格差が縮小することを示すクズネッツ曲線の存在が確認された。金融発展そのものは、政府の政策と経済成長に大きく依存しており、都市部と農村部の収入格差に依存するものではない。 Citing Literature Volume98, Issue4August 2019Pages 1779-1800 RelatedInformation