What is it about?

The Asia-Pacific region’s rapid growth and poverty reduction in recent decades have been accompanied by rising income and wealth inequality. This paper argues and shows that in a large part of the region, technological progress, globalization, market-oriented reform, and financialization have generated many new opportunities, but rewarded capital more than labor, benefited skilled workers more than the unskilled, widened spatial inequality, and produced a growing number of the superrich, all contributing to rising inequality.

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Why is it important?

Rising inequality has become a major global policy issue in recent years. Understanding its underlying causes helps to design right policy.


I hope this review paper will generate more research interest in and lead to more policy discussions on these important issues.

Juzhong Zhuang
Fudan University

Read the Original

This page is a summary of: Income and Wealth Inequality in Asia and the Pacific: Trends, Causes, and Policy Remedies, Asian Economic Policy Review, July 2022, Wiley, DOI: 10.1111/aepr.12399.
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