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Economic Crisis and Income Inequality in Korea

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  • Kwang Soo Cheong

    () (Department of Economics, University of Hawaii at Manoa)

Abstract

Using quarterly data for urban worker-households in Korea, I investigate trends in income and consumption inequality since the eruption of the recent economic crisis. I find evidence of sharply increasing income inequality while consumption inequality does not show any apparent trend. There is also evidence that severe deterioration in between-(income-decile)group inequality has more than offset minor improvement in within-group inequality, resulting in deterioration of overall income inequality. It is, therefore, believed that the worker households in Korea are undergoing a distinct process of income stratification parallel with the concentration of income after the economic crisis.

Suggested Citation

  • Kwang Soo Cheong, 1999. "Economic Crisis and Income Inequality in Korea," Working Papers 199906, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:199906
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    File URL: http://www.economics.hawaii.edu/research/workingpapers/996.pdf
    File Function: First version, 1999
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Income inequality; the Gini coefficient and Income distribution in Korea;

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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