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The evolution of income and wealth inequality in China

发布日期:2021-10-11设置

【主题】The evolution of income and wealth inequality in China

【报告人】王言(北京师范大学经济与工商管理学院 助理教授)

【时间】1013日(星期2:00-3:30 p.m.

【地点】上海财经大学高等研究院楼232

【语言】英文

【摘要】China’s GDP per capita has increased from 400 USD in 1990 to 8,000 USD in 2015. Over the same period of time inequality in both income and wealth has increased substantially. This paper proposes a general equilibrium multi-sector growth model with rich heterogeneity to quantify the impact of different changes that took place in the early 1990s over inequality along the transition. Rural-urban migration has alleviated the increase in inequality by narrowing the rural-urban income gap. The emergence and growth of private sector is a fundamental engine of growth and is the key driving force behind the increasing inequality. Not following the Kuznets projection, the income concentration is ever-increasing till 2050s and no signal to decrease. By implementing conceived reforms in labor market and financial market, we notice a significant decrease in the income and wealth concentration.