Income and Wealth Inequality in Asia and the Pacific: Trends, Causes, and Policy Remedies
Asian Economic Policy Review
; 2022.
Article
in English
| Scopus | ID: covidwho-1948929
ABSTRACT
The Asia–Pacific region's rapid growth and poverty reduction in recent decades have been accompanied by rising income and wealth inequality. Technological progress, globalization, deregulation and market-oriented reform, and financialization have generated many new opportunities, but rewarded capital more than labor, benefited skilled workers more than the unskilled, widened spatial inequality, and produced a growing number of the superrich. For some countries, population aging has also contributed to rising inequality. The present paper provides an update on recent trends of income and wealth inequality in the Asia–Pacific region, examines causes behind rising inequality, and discusses policy actions needed to tackle inequality. It also assesses how the COVID-19 has likely worsened inequality in the region. © 2022 Japan Center for Economic Research.
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
Asian Economic Policy Review
Year:
2022
Document Type:
Article
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