Development strategy, economic transformation and income distribution

Autor:	Congshan Gao, Binkai Chen
Rok vydání:	2017
Předmět:	Economics and Econometrics Government Sociology and Political Science Product market Inequality media_common.quotation_subject Financial market Interest rate Equality of outcome Market economy Income distribution Political Science and International Relations Economics China media_common
Zdroj:	Economic and Political Studies. 5:358-379
ISSN:	2470-4024 2095-4816
Popis:	Income inequality will affect China’s economic growth over the long term. It is also one of the important factors determining whether China can avoid the middle-income trap. Different from the ‘equality of outcome’ perspective, this paper analyses the causes of China’s income distribution from the perspective of equality of opportunity. The inequality of opportunity in China is mainly caused by distorted institutional arrangements in the financial markets, labour markets, and product markets, involving e.g. restrictions on interest rates, the household registration (hukou) system, price controls on industrial and agricultural products, and privileges of state-owned enterprises. All of these distorted institutional arrangements are attributed to the heavy-industry-oriented development strategy in the recent history. Although this strategy was gradually abandoned, it has generated some institutions which have long-run impacts on the income distribution in China. Transforming government functions thr...
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::c51db64dcf475fb036006325a38977c3 https://doi.org/10.1080/20954816.2017.1345176 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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