Description:
The research results on the impact of financial openness on inequality are highly inconsistent. After introducing income share as an indicator of inequality into a theoretical model to replace the typical Gini coefficient, we refute the mainstream conclusion that exogenous variables can explain the diversity of outcomes, and attribute the inconsistency to the extremely nonuniform effects of financial openness on income. The complex heterogeneity in the impacts makes global inequality difficult to put in a word. We also suggest that it may not be enough just to use the Gini coefficient to examine inequality in studies