(Equation, panel):

Variables

Financial development stage

Infant

Intermediate

Mature

Total

(1, a): Gini and iia

231

2208

17

2456

(2, b): Gini and iiu

231

2189

36

2456

(3, c): ri and iia

231

2045

27

2303

(4, d): ri and iiu

231

1996

76

2303

Residing population as a percentage of the national. (Using eq. 4, panel d)

0.49

83.66

15.85