Özdemir, Onur2020-02-162020-02-1620192254-4380https://hdl.handle.net/11363/1992https://doi.org/Contrary to the empirical findings that there is a negative link between financial sector development and income inequality, we introduce a different result: in the earlier stages of the financial and economic development, the level of income inequality decreases, but with an ongoing developmental process, the later stages show that the above-mentioned link between finance and inequality turns into positive within the framework of financial Kuznets curve. In terms of finance-inequality nexus, we find that neither markets nor institutions play a significant role for the decrease in income inequality. When the results are measured within this context, the study concludes that the U-shaped financial Kuznets curve hypothesis is valid in the sample countries.eninfo:eu-repo/semantics/openAccessAttribution-NonCommercial-NoDerivs 3.0 United StatesKuznets curvefinancial developmentincome inequalityGlobalizationU-shapePANEL-DATALIBERALIZATIONArticle8417619010.17811/ebl.8.4.2019.176-1902-s2.0-85079837934Q2WOS:000510147600002N/A