Income Inequality in China and its Influencing Factors
While the average level of income per capita has increased rapidly in China, income inequality is becoming a more serious problem that may threaten social stability and the sustainability of economic development. This chapter examines the existence in China of an inverted U-shaped curve between income inequality and economic development (known as Kuznets curve), and tests for the effects of several factors possibly influencing income inequality. These factors relate to growth, institutional arrangements, income redistribution and social security systems, and provision of public goods and infrastructure. Panel data modelling based on provincial level observations predicts an increasing trend of inequality in the future.
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