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Inequality, liberalization and financialisation: panel evidence at the sub-national scale

DEPARTMENT OF LAND ECONOMY SEMINAR SERIES
When Mar 13, 2019
from 04:00 PM to 05:00 PM
Where Mill Lane Lecture Theatre Room 4
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Speaker: Peter Phelps is Lecturer in Applied Economics at the University of Leeds. He is a member of the Cambridge Centre for Economic and Public
Policy.

About the speaker

Peter Phelps is Lecturer in Applied Economics at the University of Leeds, where he teaches at undergraduate and postgraduate levels. He obtained his
PhD from the Land Economy Department at Cambridge University, researching into regional economic and monetary integration. He has conducted economics research at Volterra Consulting, the Asian Development Bank's Office for Regional Economic Integration (OREI) and the International Monetary Fund. He is also a member of the Cambridge Centre for Economic and Public Policy. His current research focuses on the international and intranational inequality implications of economic and financial liberalisation.

Abstract

Against a backdrop of financialisation, extreme inequality and evolving financial instability, this paper’s primary contribution is to analyse the determinants of personal income inequality within one of the world’s
most prominent emerging economies. We pay particular attention to the magnitude, significance and scale of the determinants in a financialisation context, from which this paper’s relative contributions emerge.
Our empirical strategy utilises modern panel data techniques and different
instrumental variables approaches for robustness. This paper’s analysis provides a first step in the direction of identifying the main mechanisms through which financial liberalisation has affected income inequality at the sub-national scale; while providing an early indication of how inequality might evolve in the future.