Financial development and income inequality: evidence from African countries

This paper present empirical evidence on how financial development is related to income distribution in a panel data set covering 22 African countries for the period between 1990 to 2004. A dynamic panel estimation technique (GMM) is employ and the findings indicate that income inequality decrease as economies develop their financial sector, which is consistent with the bulk of theoretical and empirical research. The result also confirm that educational attainment play a significant role in making income distribution more equal. We also find no evidence supporting the Greenwood-Jovanovic hypothesis of an inverted-U- shaped relationship between financial sector development and inequality.

The complexities of tourism and regeneration: the case of the 2012 Olympic Games

Regeneration proposals typically seek to use a range of physical, economic and social initiatives to tackle inequality and improve areas. Often they attempt to change the image of places, making them more attractive to tourists, investors, and residents. The role of tourism in these regeneration processes is complex and contested. Tourism elements are often not well understood by decision-makers and sometimes create tensions with wider social regeneration aspirations. Using concepts from complexity theory, this paper interrogates the relationship between tourism and wider regeneration aspirations connected with the 2012 Olympic Games. It uses complexity theory to explore the context within which policies are developed, and the relationships between different policy initiatives. Both are highly complex, constantly evolving and sometimes ambiguous. It argues complexity concepts might be used to help to develop deeper understanding of the relationships between tourism and regeneration.