| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w30057
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| 来源ID | Working Paper 30057
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| The Real Effects of Banking the Poor: Evidence from Brazil |
| Julia Fonseca; Adrien Matray
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| 发表日期 | 2022-05-16
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| 出版年 | 2022
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| 语种 | 英语
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| 摘要 | We study how financial development affects economic development and wage inequality. We use a large expansion of government-owned banks into Brazilian cities with low bank branch coverage and combine it with data on the universe of employees from 2000-2014. We find that higher financial development fosters firm growth, higher labor demand, and higher average wages, especially for cities initially in banking deserts. However, these gains are not shared equally. Instead, they increase with workers’ productivity, implying a substantial increase in wage inequality. The changes to inequality are concentrated in cities where the initial supply of skilled workers is low, indicating that talent scarcity can drive how financial development affects inequality. Our results are inconsistent with alternative explanations such as differential exposure to Brazil's economic boom, an overall increase in government lending, and other government or social welfare programs. These results motivate embedding skill heterogeneity into macro-finance development models in order to capture these distributional consequences. |
| 主题 | Financial Economics
; Financial Institutions
; Public Economics
; Labor Economics
; Labor Compensation
; Development and Growth
; Development
; Growth and Productivity
|
| URL | https://www.nber.org/papers/w30057
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587731
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推荐引用方式
GB/T 7714 |
Julia Fonseca,Adrien Matray. The Real Effects of Banking the Poor: Evidence from Brazil. 2022.
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文件名：
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w30057.pdf
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格式：
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Adobe PDF
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