Purpose

Income inequality stalls economic growth with undesirable socio-economic consequences. Despite various measures targeted towards reducing the inequality gap, disparities in income distribution persist in Nigeria. Therefore, this study aims to explore a new line of argument to the finance mechanism in reducing income inequality.

Design/methodology/approach

The study uses time-series data on Nigeria from 1980 to 2015 with analysis conducted using the autoregressive distributed lag-error correction model approach of Pesaran et al. (2001).

Findings

The results show amongst others that the channel of real interest rate on income inequality is through bank credit, real interest rate has an indirect relationship to income inequality and bank credit has an equalising impact on income inequality when the model is augmented for a structural break. The results show amongst others, that, on average, ceteris paribus, a 1% point increase in the real lending interest rate is associated with a 0.45% decline in the volume of bank credit.

Originality/value

This paper engages a new line of argument by unbundling how financial intermediation impacts on income inequality. The extant literature submits that finance directly impacts income inequality, whereas this study investigates further to show that interest rate impacts income inequality through bank credit. That is, the transmission mechanism by which finance affects income inequality is modelled and analysed.

中文翻译：

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分拆利率和银行信贷关系对收入不平等的影响：尼日利亚的结构性断裂分析

目的

收入不平等使经济增长停滞，带来了不良的社会经济后果。尽管采取了旨在减少不平等差距的各种措施，但尼日利亚的收入分配差距仍然存在。因此，本研究旨在探讨减少收入不平等的金融机制的新观点。

设计/方法/方法

该研究使用了1980年至2015年尼日利亚的时间序列数据，并使用Pesaran等人的自回归分布式滞后误差校正模型方法进行了分析。（2001）。

发现

结果显示，除其他因素外，实际利率对收入不平等的渠道是通过银行信贷，实际利率与收入不平等有间接关系，而当模型被结构性突破时，银行信贷对收入不平等产生了均等的影响。结果表明，除其他外，平均而言，实际贷款利率上升1％，银行信贷量下降0.45％。

创意/价值

本文通过分拆金融中介如何影响收入不平等而引入了新的观点。现有文献认为，金融直接影响收入不平等，而本研究进一步调查表明，利率通过银行信贷影响收入不平等。也就是说，对金融影响收入不平等的传导机制进行了建模和分析。