Banking Sector Crises and Inequality

An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides,...

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Main Author:	Honohan, Patrick
Format:	Publications & Research
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ABSOLUTE POVERTY ADVERSE EFFECTS BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK CENTRAL BANK CORRUPTION COUNTRY DATA COUNTRY DUMMIES CRISES CROSS-COUNTRY ANALYSIS CROSS-COUNTRY DATA CROSS-COUNTRY STUDY CYCLICAL VOLATILITY DATA SET DEBT DEPOSIT ACCOUNTS DISTRIBUTIONAL CHANGES DISTRIBUTIONAL EFFECTS ECONOMIC CRISES ECONOMIC DECLINE ECONOMIC DOWNTURNS ECONOMIC MECHANISMS ECONOMIC SHOCKS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXOGENOUS SHOCKS EXPENDITURES EXPLANATORY VARIABLES EXTERNAL IMBALANCES EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL SECTOR FOREIGN EXCHANGE GDP GDP PER CAPITA GINI COEFFICIENT GLOBAL VIEW GNP GNP PER CAPITA GROWTH DATA GROWTH RATES HOUSEHOLD DATA HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD SURVEYS IMPLYING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SHARE INCREASED INEQUALITY INEQUALITY INEQUALITY ESTIMATES INEQUALITY MEASURES INFLATION INFLATION RATE INFLATION TAX INSURANCE INTEREST RATE INTEREST RATES INVOLUNTARY UNEMPLOYMENT LABOR MARKET LABOR MARKETS LATIN AMERICAN LEGAL ORIGIN LENDING RATES LIQUIDITY LIVING STANDARDS LONG-TERM GROWTH LORENZ CURVE MACROECONOMIC ADJUSTMENTS MACROECONOMIC CONDITIONS MEAN INCOME MEAN VALUE MEASURED INEQUALITY MEASUREMENT ERROR MEDIAN INCOME NATIONAL INCOME NOMINAL INTEREST RATE OUTPUT GAP POLICY IMPLICATIONS POLICY RESEARCH POLICY VARIABLES POOR PEOPLE POSITIVE POSITIVE EFFECT POVERTY GAP POVERTY HEADCOUNT POVERTY IMPACT POVERTY INCIDENCE POVERTY INCREASES POVERTY MEASURES PRICE CHANGES PRICE STABILITY PRODUCERS PRODUCTION GOODS PROPERTY RIGHTS PUBLIC INFRASTRUCTURE PUBLIC SPENDING PURCHASING POWER QUANTITATIVE APPROACH RATIONAL EXPECTATIONS REAL EXCHANGE RATE REAL INCOME REAL WAGE REAL WAGE RATES REAL WAGES REGRESSION ANALYSIS RELATIVE DEMAND RELATIVE PRICES SECURITIES SKEWED DISTRIBUTION SKILLED WORKERS STOCK PRICES TAX REVENUES TAXATION TELEPHONE LINES TERMS OF TRADE TRANSITION ECONOMIES UNEMPLOYMENT WAGE RATES WEALTH WEALTH DISTRIBUTION WELFARE EFFECTS WELFARE FUNCTION
Online Access:	http://documents.worldbank.org/curated/en/2005/07/6045536/banking-sector-crises-inequality http://hdl.handle.net/10986/8201

id	okr-10986-8201
recordtype	oai_dc
spelling	okr-10986-82012021-04-23T14:02:43Z Banking Sector Crises and Inequality Honohan, Patrick ABSOLUTE POVERTY ADVERSE EFFECTS BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK CENTRAL BANK CORRUPTION COUNTRY DATA COUNTRY DUMMIES CRISES CROSS-COUNTRY ANALYSIS CROSS-COUNTRY DATA CROSS-COUNTRY STUDY CYCLICAL VOLATILITY DATA SET DEBT DEPOSIT ACCOUNTS DISTRIBUTIONAL CHANGES DISTRIBUTIONAL EFFECTS ECONOMIC CRISES ECONOMIC DECLINE ECONOMIC DOWNTURNS ECONOMIC MECHANISMS ECONOMIC SHOCKS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXOGENOUS SHOCKS EXPENDITURES EXPLANATORY VARIABLES EXTERNAL IMBALANCES EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL SECTOR FOREIGN EXCHANGE GDP GDP PER CAPITA GINI COEFFICIENT GLOBAL VIEW GNP GNP PER CAPITA GROWTH DATA GROWTH RATES HOUSEHOLD DATA HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD SURVEYS IMPLYING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SHARE INCREASED INEQUALITY INEQUALITY INEQUALITY ESTIMATES INEQUALITY MEASURES INFLATION INFLATION RATE INFLATION TAX INSURANCE INTEREST RATE INTEREST RATES INVOLUNTARY UNEMPLOYMENT LABOR MARKET LABOR MARKETS LATIN AMERICAN LEGAL ORIGIN LENDING RATES LIQUIDITY LIVING STANDARDS LONG-TERM GROWTH LORENZ CURVE MACROECONOMIC ADJUSTMENTS MACROECONOMIC CONDITIONS MEAN INCOME MEAN VALUE MEASURED INEQUALITY MEASUREMENT ERROR MEDIAN INCOME NATIONAL INCOME NOMINAL INTEREST RATE OUTPUT GAP POLICY IMPLICATIONS POLICY RESEARCH POLICY VARIABLES POOR PEOPLE POSITIVE POSITIVE EFFECT POVERTY GAP POVERTY HEADCOUNT POVERTY IMPACT POVERTY INCIDENCE POVERTY INCREASES POVERTY MEASURES PRICE CHANGES PRICE STABILITY PRODUCERS PRODUCTION GOODS PROPERTY RIGHTS PUBLIC INFRASTRUCTURE PUBLIC SPENDING PURCHASING POWER QUANTITATIVE APPROACH RATIONAL EXPECTATIONS REAL EXCHANGE RATE REAL INCOME REAL WAGE REAL WAGE RATES REAL WAGES REGRESSION ANALYSIS RELATIVE DEMAND RELATIVE PRICES SECURITIES SKEWED DISTRIBUTION SKILLED WORKERS STOCK PRICES TAX REVENUES TAXATION TELEPHONE LINES TERMS OF TRADE TRANSITION ECONOMIES UNEMPLOYMENT WAGE RATES WEALTH WEALTH DISTRIBUTION WELFARE EFFECTS WELFARE FUNCTION An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides, the poor are much less able to absorb a cut in income: safety-net policies are crucial during a downturn even if the gap between rich and poor has temporarily narrowed. More fundamentally, distributional shifts during the crisis may be less important than the fact that underlying financial policy and infrastructures conducive to crisis can also be associated with more unequal societies. 2012-06-15T20:10:23Z 2012-06-15T20:10:23Z 2005-07 http://documents.worldbank.org/curated/en/2005/07/6045536/banking-sector-crises-inequality http://hdl.handle.net/10986/8201 English Policy Research Working Paper; No. 3659 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ABSOLUTE POVERTY ADVERSE EFFECTS BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK CENTRAL BANK CORRUPTION COUNTRY DATA COUNTRY DUMMIES CRISES CROSS-COUNTRY ANALYSIS CROSS-COUNTRY DATA CROSS-COUNTRY STUDY CYCLICAL VOLATILITY DATA SET DEBT DEPOSIT ACCOUNTS DISTRIBUTIONAL CHANGES DISTRIBUTIONAL EFFECTS ECONOMIC CRISES ECONOMIC DECLINE ECONOMIC DOWNTURNS ECONOMIC MECHANISMS ECONOMIC SHOCKS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXOGENOUS SHOCKS EXPENDITURES EXPLANATORY VARIABLES EXTERNAL IMBALANCES EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL SECTOR FOREIGN EXCHANGE GDP GDP PER CAPITA GINI COEFFICIENT GLOBAL VIEW GNP GNP PER CAPITA GROWTH DATA GROWTH RATES HOUSEHOLD DATA HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD SURVEYS IMPLYING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SHARE INCREASED INEQUALITY INEQUALITY INEQUALITY ESTIMATES INEQUALITY MEASURES INFLATION INFLATION RATE INFLATION TAX INSURANCE INTEREST RATE INTEREST RATES INVOLUNTARY UNEMPLOYMENT LABOR MARKET LABOR MARKETS LATIN AMERICAN LEGAL ORIGIN LENDING RATES LIQUIDITY LIVING STANDARDS LONG-TERM GROWTH LORENZ CURVE MACROECONOMIC ADJUSTMENTS MACROECONOMIC CONDITIONS MEAN INCOME MEAN VALUE MEASURED INEQUALITY MEASUREMENT ERROR MEDIAN INCOME NATIONAL INCOME NOMINAL INTEREST RATE OUTPUT GAP POLICY IMPLICATIONS POLICY RESEARCH POLICY VARIABLES POOR PEOPLE POSITIVE POSITIVE EFFECT POVERTY GAP POVERTY HEADCOUNT POVERTY IMPACT POVERTY INCIDENCE POVERTY INCREASES POVERTY MEASURES PRICE CHANGES PRICE STABILITY PRODUCERS PRODUCTION GOODS PROPERTY RIGHTS PUBLIC INFRASTRUCTURE PUBLIC SPENDING PURCHASING POWER QUANTITATIVE APPROACH RATIONAL EXPECTATIONS REAL EXCHANGE RATE REAL INCOME REAL WAGE REAL WAGE RATES REAL WAGES REGRESSION ANALYSIS RELATIVE DEMAND RELATIVE PRICES SECURITIES SKEWED DISTRIBUTION SKILLED WORKERS STOCK PRICES TAX REVENUES TAXATION TELEPHONE LINES TERMS OF TRADE TRANSITION ECONOMIES UNEMPLOYMENT WAGE RATES WEALTH WEALTH DISTRIBUTION WELFARE EFFECTS WELFARE FUNCTION
spellingShingle	ABSOLUTE POVERTY ADVERSE EFFECTS BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK CENTRAL BANK CORRUPTION COUNTRY DATA COUNTRY DUMMIES CRISES CROSS-COUNTRY ANALYSIS CROSS-COUNTRY DATA CROSS-COUNTRY STUDY CYCLICAL VOLATILITY DATA SET DEBT DEPOSIT ACCOUNTS DISTRIBUTIONAL CHANGES DISTRIBUTIONAL EFFECTS ECONOMIC CRISES ECONOMIC DECLINE ECONOMIC DOWNTURNS ECONOMIC MECHANISMS ECONOMIC SHOCKS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXOGENOUS SHOCKS EXPENDITURES EXPLANATORY VARIABLES EXTERNAL IMBALANCES EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL SECTOR FOREIGN EXCHANGE GDP GDP PER CAPITA GINI COEFFICIENT GLOBAL VIEW GNP GNP PER CAPITA GROWTH DATA GROWTH RATES HOUSEHOLD DATA HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD SURVEYS IMPLYING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SHARE INCREASED INEQUALITY INEQUALITY INEQUALITY ESTIMATES INEQUALITY MEASURES INFLATION INFLATION RATE INFLATION TAX INSURANCE INTEREST RATE INTEREST RATES INVOLUNTARY UNEMPLOYMENT LABOR MARKET LABOR MARKETS LATIN AMERICAN LEGAL ORIGIN LENDING RATES LIQUIDITY LIVING STANDARDS LONG-TERM GROWTH LORENZ CURVE MACROECONOMIC ADJUSTMENTS MACROECONOMIC CONDITIONS MEAN INCOME MEAN VALUE MEASURED INEQUALITY MEASUREMENT ERROR MEDIAN INCOME NATIONAL INCOME NOMINAL INTEREST RATE OUTPUT GAP POLICY IMPLICATIONS POLICY RESEARCH POLICY VARIABLES POOR PEOPLE POSITIVE POSITIVE EFFECT POVERTY GAP POVERTY HEADCOUNT POVERTY IMPACT POVERTY INCIDENCE POVERTY INCREASES POVERTY MEASURES PRICE CHANGES PRICE STABILITY PRODUCERS PRODUCTION GOODS PROPERTY RIGHTS PUBLIC INFRASTRUCTURE PUBLIC SPENDING PURCHASING POWER QUANTITATIVE APPROACH RATIONAL EXPECTATIONS REAL EXCHANGE RATE REAL INCOME REAL WAGE REAL WAGE RATES REAL WAGES REGRESSION ANALYSIS RELATIVE DEMAND RELATIVE PRICES SECURITIES SKEWED DISTRIBUTION SKILLED WORKERS STOCK PRICES TAX REVENUES TAXATION TELEPHONE LINES TERMS OF TRADE TRANSITION ECONOMIES UNEMPLOYMENT WAGE RATES WEALTH WEALTH DISTRIBUTION WELFARE EFFECTS WELFARE FUNCTION Honohan, Patrick Banking Sector Crises and Inequality
relation	Policy Research Working Paper; No. 3659
description	An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides, the poor are much less able to absorb a cut in income: safety-net policies are crucial during a downturn even if the gap between rich and poor has temporarily narrowed. More fundamentally, distributional shifts during the crisis may be less important than the fact that underlying financial policy and infrastructures conducive to crisis can also be associated with more unequal societies.
format	Publications & Research
author	Honohan, Patrick
author_facet	Honohan, Patrick
author_sort	Honohan, Patrick
title	Banking Sector Crises and Inequality
title_short	Banking Sector Crises and Inequality
title_full	Banking Sector Crises and Inequality
title_fullStr	Banking Sector Crises and Inequality
title_full_unstemmed	Banking Sector Crises and Inequality
title_sort	banking sector crises and inequality
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/07/6045536/banking-sector-crises-inequality http://hdl.handle.net/10986/8201
_version_	1764407483851341824

Banking Sector Crises and Inequality

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