Sustainable finance seeks to increase the contribution of finance to sustainable and inclusive growth. The global financial crisis of 2008 provoked the return of inequality in advanced countries to levels typical of a century ago. The aim of this paper is to empirically analyze the relationship between finance and income inequality for a group of nine OECD countries over the pre-crisis and post-crisis periods (2000–2015). The model proposed in this study simultaneously considers two explanatory variables for measuring financial depth (credit provision and capital markets) and a new multidimensional variable to measure the financial system’s resilience (a composite indicator), and conducts panel data analysis. The empirical results confirm that in terms of financial depth, the "too much finance hypothesis" holds. We also find that financial system’s resilience helps alleviate existing income inequality and that income inequality appears higher in liberal market economies than in coordinated economies. These results encourage policymakers to look beyond traditional public redistribution interventions and to pay attention to other financial variables related to the financialization process, the behavior of financial intermediaries, and the specific environment in which they operate.

中文翻译：

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重新思考收入不平等和金融发展的联系。对九个经合组织国家的研究

可持续金融寻求增加金融对可持续和包容性增长的贡献。2008 年的全球金融危机促使发达国家的不平等现象恢复到一个世纪前的典型水平。本文的目的是实证分析九个经合组织国家在危机前和危机后时期（2000-2015 年）的金融和收入不平等之间的关系。本研究提出的模型同时考虑了衡量金融深度的两个解释变量（信贷供给和资本市场）和一个新的衡量金融体系弹性的多维变量（复合指标），并进行面板数据分析。实证结果证实，就金融深度而言，“金融过多假说”成立。我们还发现，金融体系的弹性有助于缓解现有的收入不平等，而且自由市场经济体的收入不平等似乎高于协调经济体。这些结果鼓励政策制定者超越传统的公共再分配干预措施，并关注与金融化过程、金融中介机构的行为及其运作的特定环境相关的其他金融变量。