| Autors: Peshev, P., Stattev, S., Stefanova, K., Lazarova, M. D. Title: Financial wealth inequality drivers in a small eu member country: An example from Bulgaria during the period 2005-2017 Keywords: - Abstract: In this scientific paper financial wealth inequality (FWI) in Bulgaria during the period of 2005:Q4-2017:Q4 has been analysed. Households’ bank deposits are the best-known and most popular means for storing financial wealth (FW) among local individuals, assuming to be a relevant proxy for calculating FWI measures. By using real data on quarterly bank deposit’s distribution, we calculate Gini coefficients, Top 1 percentile and Top 10 decile FWI indicators. Using these variables as dependent variables several econometric models have been developed using the ARDL bound testing approach of Pesaran and Shin (1999) and Pesaran et al. (2001). Long-term and short-term drivers of the FWI has been identified. Econometric results suggest that financial deepening, stock prices, interest rates and inflation contributes to FWI in the long run. Some of those variables help however decrease the wealthiest decile and percentile’s financial wealth. House prices are having a limited negative impact on . References Issue
Copyright Economic Research Institute at the Bulgarian Academy of Sciences |
Вид: статия в списание, публикация в реферирано издание, индексирана в Scopus
