Using years of education as a measure of status, we study the relationship between financial development and intergenerational mobility, focusing on human capital investments boosted by financial deepening. We consider a set of indices to capture different components of the overall intergenerational education mobility. Using a sample of 39 countries, we find that financial development is related to structural mobility but not to exchange mobility. In particular, while we detect an inverted U-shaped relationship between financial development and structural mobility, we do not find any significant relationship with exchange mobility. (C) 2018 Africagrowth Institute. Production and hosting by Elsevier B.V.
|Number of pages||13|
|Journal||Review of Development Finance|
|Publication status||Published - 2018|
All Science Journal Classification (ASJC) codes
- Economics and Econometrics