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Trends and Drivers of Income Inequality in the Philippines, Thailand, and Viet Nam: A Decomposition Analysis

Author

Listed:
  • Mercado, Rogelio

    (South East Asian Central Banks Research and Training Centre)

  • Park, Cyn-Young

    (Asian Development Bank)

  • Zhuang, Juzhong

    (Asian Development Bank)

Abstract

Over the past 2 decades, income inequality has moderated in three middle-income countries in Southeast Asia—the Philippines, Thailand, and Viet Nam—with multiple factors at play. In each country, wage, nonfarm business income, and overseas remittance concentrations declined as less well-off households increasingly engaged in better-paying activities. In Thailand, private transfers became more pro-poor, and in Viet Nam, public transfers more targeted. Major contributors to lower income inequality also included a narrowing in regional disparity and urban–rural income gaps, and, in the Philippines and Thailand, a fall in the education premium. This recent trend of moderating income inequality might be the combined outcome of rising income opportunities, government policies promoting social inclusion, and positive impacts of structural transformation. Nonetheless, income inequality remains high, especially in the Philippines and Thailand. More policy efforts are still needed to make growth more inclusive.

Suggested Citation

  • Mercado, Rogelio & Park, Cyn-Young & Zhuang, Juzhong, 2023. "Trends and Drivers of Income Inequality in the Philippines, Thailand, and Viet Nam: A Decomposition Analysis," ADB Economics Working Paper Series 692, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0692
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    Cited by:

    1. Benoît Jonveaux, 2024. "Philippines – Preserving economic stability, financing development and anticipating climate issues," Working Paper e751624a-1c8d-44b7-b3ef-a, Agence française de développement.

    More about this item

    Keywords

    Income inequality; decomposition; Southeast Asia;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East

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