关键词: 金融深化, 收入不平等, 银行信贷

Abstract: Exploring the impact mechanism of financial deepening on income inequality provides a theoretical basis for the government to formulate financial development strategies, which is conducive to rational redistribution and improving people?s well-being. Based on the theoretical model of the financial open economy, the article defines its endogenous economic growth rate and expands its impact on the level of income inequality. Then we select the panel data of 58 developing countries and use the SYS-GMM (Systematic Generalized Moments Estimation) method for empirical testing, and the results show that financial deepening plays a role in promoting income inequality, and the impact of financial deepening is measured by private bank credit on income inequality is determined by the gap between real interest rates (r) and real GDP growth (g). When the degree of financial deepening is higher, the greater the value of (r?g), that is, the greater the gap between the real interest rate and the GDP growth rate, the less in income inequality. Therefore, from a policy perspective, inequality can be reduced by further expanding bank credit in developing countries while the (r?g) value is positive.

Key words: Financial Deepening, Income Inequality, Bank Credit