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, 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.
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dig-okr-1098682012024-08-08T17:21:58Z 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 https://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 application/pdf text/plain World Bank, Washington, DC |
institution |
Banco Mundial |
collection |
DSpace |
country |
Estados Unidos |
countrycode |
US |
component |
Bibliográfico |
access |
En linea |
databasecode |
dig-okr |
tag |
biblioteca |
region |
America del Norte |
libraryname |
Biblioteca del Banco Mundial |
language |
English |
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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 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 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 |
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. |
topic_facet |
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 |
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 |
2005-07 |
url |
http://documents.worldbank.org/curated/en/2005/07/6045536/banking-sector-crises-inequality https://hdl.handle.net/10986/8201 |
work_keys_str_mv |
AT honohanpatrick bankingsectorcrisesandinequality |
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1807155137206026240 |