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2019 | OriginalPaper | Buchkapitel

12. Do Positive Excess Capital Adequacy Ratio Shocks Influence the Income Inequality Dynamics in South Africa?

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Abstract

Evidence reveals that a positive excess CAR shock raises income inequality growth. Evidence from counterfactual analysis indicates that the actual decline in credit and GDP growth due to positive excess CAR shock exceeds those of the counterfactual responses. This suggests that increased income inequality growth following the positive excess CAR shocks exacerbates the decline in the real economic activity. From policy perspective, Perugini et. al (2015) suggests that policymakers should cast their nets wider than financial regulatory reforms and consider the effects of their policy changes on influencing the distributive patterns, which include income inequality.

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Literatur
Zurück zum Zitat Ampudia, M., van Vlokhoven, H., & Zochowski, D. (2014). Financial fragility of the Euro area households (Working chapter series 1737). European Central Bank. Ampudia, M., van Vlokhoven, H., & Zochowski, D. (2014). Financial fragility of the Euro area households (Working chapter series 1737). European Central Bank.
Zurück zum Zitat Carpantier, F. F., Olivera, J., & van Kerm, P. (2017, forthcoming). Macroprudential policy and household wealth inequality. Journal of International Money and Finance, 6, 87–105. Carpantier, F. F., Olivera, J., & van Kerm, P. (2017, forthcoming). Macroprudential policy and household wealth inequality. Journal of International Money and Finance, 6, 87–105.
Zurück zum Zitat Demirguc-Kunt, A., & Levine, R. (2009). Finance and inequality: Theory and evidence. Annual Review of Financial Economics, 1, 287–318.CrossRef Demirguc-Kunt, A., & Levine, R. (2009). Finance and inequality: Theory and evidence. Annual Review of Financial Economics, 1, 287–318.CrossRef
Zurück zum Zitat Gabraith, J. K. (2012). Inequality and instability: A study of the world economy just before the great crisis. New York: Oxford University Press. Gabraith, J. K. (2012). Inequality and instability: A study of the world economy just before the great crisis. New York: Oxford University Press.
Zurück zum Zitat Gumata, N., & Ndou, E. (2017). Labour market and fiscal policy adjustments to shocks: The role and implications for price and financial stability in South Africa. Cham, Switzerland: Palgrave Macmillan. Gumata, N., & Ndou, E. (2017). Labour market and fiscal policy adjustments to shocks: The role and implications for price and financial stability in South Africa. Cham, Switzerland: Palgrave Macmillan.
Zurück zum Zitat Johansson, A. C., & Wand, X. (2014). Financial sector policies and income inequalities. China Economic Review, 31, 367–378.CrossRef Johansson, A. C., & Wand, X. (2014). Financial sector policies and income inequalities. China Economic Review, 31, 367–378.CrossRef
Zurück zum Zitat Perugini, C., Holscher, J., & Collie, S. (2016). Inequality, credit and financial crises. Cambridge Journal of Economics, 40(1), 227–257.CrossRef Perugini, C., Holscher, J., & Collie, S. (2016). Inequality, credit and financial crises. Cambridge Journal of Economics, 40(1), 227–257.CrossRef
Zurück zum Zitat Stiglitz, J. E. (2015). New theoretical perspectives on the distribution of income and wealth amongst individuals: Part IV—Land and credit (NBER working chapters 21192). Stiglitz, J. E. (2015). New theoretical perspectives on the distribution of income and wealth amongst individuals: Part IV—Land and credit (NBER working chapters 21192).
Metadaten
Titel
Do Positive Excess Capital Adequacy Ratio Shocks Influence the Income Inequality Dynamics in South Africa?
verfasst von
Eliphas Ndou
Thabo Mokoena
Copyright-Jahr
2019
DOI
https://doi.org/10.1007/978-3-030-19803-9_12