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This study utilizes a panel fixed model to analyze the impact of financial sector development and commercial openness on income disparity of 40 developing countries over the period between 1995 and 2016. The empirical results suggest that there is a relationship between financial sector development, trade openness and income inequality. We establish that, in Latin America, the financial sector development increases income inequality while in Subsaharian Africa, we show the existence of andoi:10.5539/ijef.v12n4p33 fatcat:n3pqb3tzvnc2xbmeobxwg6xdpe