Stock Market and Inequality Distributions – Evidence from the BRICS and G7 Countries

Dong quang Dang; Weiou Wu; Ioannis Korkos

doi:10.1016/j.iref.2024.02.067

Stock Market and Inequality Distributions – Evidence from the BRICS and G7 Countries

Dong quang Dang, Weiou Wu, Ioannis Korkos

Accounting Finance and Economics

Research output: Contribution to journal › Article › peer-review

Abstract

By examining the effects of three stock market indicators (market accessibility, efficiency, and stability) on income and wealth inequality in the BRICS and G7 countries, this study enriches lacking literature on income and wealth inequality, particularly for the BRICS countries. We apply the Autoregressive Distributed Lag–Mixed Data Sampling (ADL-MIDAS) model. We find that only enhancements in market stability reduce income inequality in the BRICS and G7 countries. Additionally, we find that while expansions of market accessibility contribute to narrowing wealth inequality, improvements in market stability widen the wealth disparity in the BRICS countries. Limited effects of the stock market indicators on wealth distribution are observed in the G7 countries.

Original language	English
Pages (from-to)	1172-1190
Number of pages	19
Journal	International Review of Economics & Finance
Volume	92
DOIs	https://doi.org/10.1016/j.iref.2024.02.067
Publication status	Published - 23 Feb 2024

Bibliographical note

Publisher Copyright:
© 2024 The Authors

Keywords

Mixed data samplingIncome inequalityWealth inequalityStock marketAutoregressive distributed lagBRICSG7

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.iref.2024.02.067

1-s2.0-S1059056024001473-mainFinal published version, 816 KBLicence: CC BY 4.0

Cite this

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title = "Stock Market and Inequality Distributions – Evidence from the BRICS and G7 Countries",

abstract = "By examining the effects of three stock market indicators (market accessibility, efficiency, and stability) on income and wealth inequality in the BRICS and G7 countries, this study enriches lacking literature on income and wealth inequality, particularly for the BRICS countries. We apply the Autoregressive Distributed Lag–Mixed Data Sampling (ADL-MIDAS) model. We find that only enhancements in market stability reduce income inequality in the BRICS and G7 countries. Additionally, we find that while expansions of market accessibility contribute to narrowing wealth inequality, improvements in market stability widen the wealth disparity in the BRICS countries. Limited effects of the stock market indicators on wealth distribution are observed in the G7 countries.",

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AU - Dang, Dong quang

AU - Wu, Weiou

AU - Korkos, Ioannis

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Y1 - 2024/2/23

N2 - By examining the effects of three stock market indicators (market accessibility, efficiency, and stability) on income and wealth inequality in the BRICS and G7 countries, this study enriches lacking literature on income and wealth inequality, particularly for the BRICS countries. We apply the Autoregressive Distributed Lag–Mixed Data Sampling (ADL-MIDAS) model. We find that only enhancements in market stability reduce income inequality in the BRICS and G7 countries. Additionally, we find that while expansions of market accessibility contribute to narrowing wealth inequality, improvements in market stability widen the wealth disparity in the BRICS countries. Limited effects of the stock market indicators on wealth distribution are observed in the G7 countries.

AB - By examining the effects of three stock market indicators (market accessibility, efficiency, and stability) on income and wealth inequality in the BRICS and G7 countries, this study enriches lacking literature on income and wealth inequality, particularly for the BRICS countries. We apply the Autoregressive Distributed Lag–Mixed Data Sampling (ADL-MIDAS) model. We find that only enhancements in market stability reduce income inequality in the BRICS and G7 countries. Additionally, we find that while expansions of market accessibility contribute to narrowing wealth inequality, improvements in market stability widen the wealth disparity in the BRICS countries. Limited effects of the stock market indicators on wealth distribution are observed in the G7 countries.

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U2 - 10.1016/j.iref.2024.02.067

DO - 10.1016/j.iref.2024.02.067

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VL - 92

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EP - 1190

JO - International Review of Economics & Finance

JF - International Review of Economics & Finance

ER -

Stock Market and Inequality Distributions – Evidence from the BRICS and G7 Countries

Abstract

Bibliographical note

Keywords

UN SDGs

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