A theory of financial inclusion and income inequality

We are very grateful for the financial support provided by the ESRC and NSFC (Newton Fund). This paper is part of the research project entitled Research on China’s Financial System towards Sustainable Growth: The Role of Innovation, Diversity and Financial Regulation (ESRC: ES/P005241/1 and the National Natural Science Foundation of China: 71661137002. In addition, this research was supported by the National Social Science Foundation of China (Project Number: 17ZDA071).Peer reviewedPublisher PD