금융효율성과 소득불평등 간 관계 분석

초록

This study empirically examines the relationship between financial efficiency and income inequality in the Korean economy. Financial efficiency is measured using four key indicators: bank net interest margin, bank lending-deposit spread, bank overhead costs to total assets, and stock market turnover ratio. The estimation methodology employs the regression analysis and vector autoregression model to account for the dynamic relationships between variables. Estimation results show that the increase in the financial efficiency based on bank net interest margin, bank lind-deposit spread, and bank overhead costs appears not to have an impact on income inequality whereas the increase in financial efficiency measured by stock market turnover ratio intensifies income inequality. This study suggests that since the increase in the financial efficiency seems not to affect income inequality, but the increase in the financial efficiency of the stock market may deepen income inequality, the financial policy for enhancing financial efficiency in order to decrease income inequality is focusing on the policy effectiveness and it is needed to have deeper policy consideration in the case of the higher financial efficiency of stock market.

키워드