Measuring the Level and Inequality of Wealth: An Application to China.

Published

Journal Article

We construct and compare three distinct measures of household asset wealth that complement traditional income- or expenditure-based measures of socioeconomic status. We apply these measures to longitudinal household survey data from China and demonstrate that household asset wealth has been increasing over time, a theme consistent with many previous studies on the process of development in China. Unlike other studies that have shown rising income inequality over time, however, we show that asset wealth inequality has actually been declining in recent years, indicating widespread participation in the benefits of economic reforms. Furthermore, the evolution in the cumulative distribution of household welfare is such that social welfare has been increasing with the passage of time, despite rising inequality in the early years of the survey.

Full Text

Duke Authors

Cited Authors

  • Ward, P

Published Date

  • December 2014

Published In

Volume / Issue

  • 60 / 4

Start / End Page

  • 613 - 635

PubMed ID

  • 25641989

Pubmed Central ID

  • 25641989

Electronic International Standard Serial Number (EISSN)

  • 1475-4991

International Standard Serial Number (ISSN)

  • 0034-6586

Digital Object Identifier (DOI)

  • 10.1111/roiw.12063

Language

  • eng