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.
Perspectives
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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Resources
Poverty, inequality and inclusive growth in Asia
This paper asks why Asia is embracing inclusive growth and discusses the concept of inclusive growth and its policy ingredients.
Poverty, inequality and inclusive growth in Asia
This paper asks why Asia is embracing inclusive growth and discusses the concept of inclusive growth and its policy ingredients.
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