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Evolution of wealth inequality in China

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  • Shi Li
  • Haiyuan Wan

Abstract

Household wealth is a key indicator that reflects national economic competiveness and individual income levels. The distribution of wealth is central for evaluating social justice in a country. This article uses a data set composed of the 2002 China Household Income Project and the 2010 Chinese Family Panel Survey to analyze the level of wealth and wealth inequality in China during 2002 and 2010. The analysis decomposes the evolution of wealth inequality during that period in terms of the structure and composition of wealth. The findings show that there was a large increase in the quantity of wealth and wealth inequality between 2002 and 2010. The level of wealth in 2010 was four times that of 2002, and housing assets were the greatest component of overall wealth in 2010. Wealth inequality also rose dramatically after 2002, with the Gini coefficient of the distribution of wealth increasing from 0.538 in 2002 to 0.739 in 2010. The rapidly escalating price of housing has been the main contributor to increasing wealth inequality in recent years.

Suggested Citation

  • Shi Li & Haiyuan Wan, 2015. "Evolution of wealth inequality in China," China Economic Journal, Taylor & Francis Journals, vol. 8(3), pages 264-287, September.
    • Handle: RePEc:taf:rcejxx:v:8:y:2015:i:3:p:264-287
    DOI: 10.1080/17538963.2015.1110338
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    Cited by:

    1. Targa, Matteo & Yang, Li, 2023. "The impact of communist party membership on wealth distribution and accumulation in urban China," ZEW Discussion Papers 23-057, ZEW - Leibniz Centre for European Economic Research.
    2. Lee, Minjoon, 2023. "Portfolio allocation over the life cycle with multiple late-in-life saving motives," Journal of Empirical Finance, Elsevier, vol. 74(C).
    3. Jing Yuan & Xiaomin Liu & Yinghui Wang & Zongwu Cai, 2024. "Impact of Minimum Wage Standard on Occupational Income Inequality and Common Prosperity in China," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202404, University of Kansas, Department of Economics, revised Feb 2024.
    4. , Matteo & Yang, Li, 2023. "The Impact of Communist Party Membership on Wealth Distribution and Accumulation in Urban China," SocArXiv y4pwa, Center for Open Science.

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