Publication:
Income and Wealth Inequality in Hong Kong, 1981–2020: The Rise of Pluto-Communism?

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creativeworkseries.issn1564-698X
dc.contributor.authorPiketty, Thomas
dc.contributor.authorYang, Li
dc.date.accessioned2023-07-14T15:26:06Z
dc.date.available2023-07-14T15:26:06Z
dc.date.issued2022-10-08
dc.description.abstractThe objective of this paper is to better understand the evolution and institutional roots of Hong Kong's growing economic inequality and political cleavages. By combining multiple sources of data (household surveys, fiscal data, wealth rankings, national accounts) and methodological innovations, two main findings are obtained. First, he evidence suggests a very large rise in income and wealth inequality in Hong Kong over the last four decades. Second, based on the latest opinion poll data, business elites, who carry disproportionate weight in Hong Kong's Legislative Council, are found to be more likely to vote for the pro-establishment camp (presumably to ensure that policies are passed that protect their political and economic interests). This paper argues that the unique alliance of government and business elites in a partially democratic political system is the plausible institutional root of Hong Kong's rising inequality and political cleavages.en
dc.identifier.citationWorld Bank Economic Review
dc.identifier.doi10.1596/40014
dc.identifier.issn0258-6770 (print)
dc.identifier.issn1564-698X (online)
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40014
dc.language.isoen_US
dc.publisherPublished by Oxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectHONG KONG
dc.subjectWAGE DISTRIBUTION
dc.subjectCAPITAL SHARE
dc.subjectWEALTH INEQUALITY
dc.subjectPOLITICAL CLEAVAGE
dc.titleIncome and Wealth Inequality in Hong Kong, 1981–2020en
dc.title.subtitleThe Rise of Pluto-Communism?en
dc.typeJournal Article
dspace.entity.typePublication
okr.associatedcontenthttps://academic.oup.com/wber/article/36/4/803/6754318 Journal website (version of record)
okr.crossref.titleIncome and Wealth Inequality in Hong Kong, 1981–2020: The Rise of Pluto-Communism?
okr.date.disclosure2023-07-14
okr.doctypePublications & Research
okr.doctypePublications & Research::Journal Article
okr.identifier.doi10.1093/wber/lhac019
okr.identifier.doihttp://dx.doi.org/10.1596/40014
okr.language.supporteden
okr.pagenumber803–834
okr.peerreviewAcademic Peer Review
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina, Hong Kong SAR
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicSocial Protections and Labor::Wages, Compensation & Benefits
okr.topicGovernance::Politics and Government
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicPoverty Reduction::Inequality
okr.volume36 (4)
relation.isJournalIssueOfPublication5a577d27-aa9f-4a35-ac12-1d6e8900a090
relation.isJournalIssueOfPublication.latestForDiscovery5a577d27-aa9f-4a35-ac12-1d6e8900a090
relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
relation.isJournalVolumeOfPublicationdd213de9-52ab-40e9-bb44-86bf0edc81b4
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