Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/163150
Authors: 
Lee, Wai Choi
Cheong, Tsun Se
Wu, Yanrui
Year of Publication: 
2017
Series/Report no.: 
ADBI Working Paper Series 651
Abstract: 
This paper aims to study the impacts of financial development, urbanization, and globalization on income inequality in the People's Republic of China. It applies the regression-based inequality decomposition approach on a panel dataset, which is aggregated from a unique database of financial development so as to quantify the relative contributions of these three factors, along with other variables such as physical capital and human capital, to income inequality. The findings suggest that financial development, urbanization, and globalization exert a positive impact on income. However, the contributions of urbanization, foreign investment, physical capital, and human capital to regional inequality are positive. Moreover, it is found that financial development is crucial for promoting inclusive growth, since it can stimulate economic growth and is found to be an equalizing factor of inequality.
Subjects: 
Economics
China, People's Republic of
JEL: 
C43
F43
O16
R11
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-nd/3.0/igo/
Document Type: 
Working Paper

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