Yanrui Wu, University of Western Australia: This paper uses a panel cointegration technique to examine the long-run impacts of financialization and financial development on inequality. The empirical work is mainly based on the macroeconomic data of selected OECD economies. The authors argue that previous studies were based on the analysis of a sole outcome variable whereas in this paper they analyze the effect of financialization and financial development not only on inequality but also on investment and growth by using various measures. The authors also investigate both the domestic and international aspects of financialization. In general, this is an interesting paper that addresses a topical issue. I have the following comments for the authors.
The first draft of this paper with 61 pages and 32 tables is ambitious. The authors highlight the use of more variables and improved econometric methods as the contributions of this paper. The expansion of scope...