The 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.
Income and Wealth Inequality in Hong Kong, 1981–2020: The Rise of Pluto-Communism?
Résumé
en
The 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.
Auteur(s)
Thomas Piketty1, 2
, Li Yang3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
Université Paris 1 Panthéon-Sorbonne ( 7550 )
;
École normale supérieure - Paris ( 59704 )
;
Université Paris Sciences et Lettres ( 564132 )
;
École des hautes études en sciences sociales ( 99539 )
;
École des Ponts ParisTech ( 301545 )
;
Centre National de la Recherche Scientifique ( 441569 )
;
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement ( 577435 )
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
Université Paris 1 Panthéon-Sorbonne UMR8545 ( 7550 )
;
École normale supérieure - Paris ( 59704 )
;
Université Paris Sciences et Lettres ( 564132 )
;
École des hautes études en sciences sociales ( 99539 )
;
École des Ponts ParisTech ( 301545 )
;
Centre National de la Recherche Scientifique ( 441569 )
;
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement UMR1393 ( 577435 )
3
DIW Berlin -
Deutsches Institut für Wirtschaftsforschung
( 153237 )
- Mohrenstraße 58, 10117 Berlin
- Allemagne
Langue du document
Anglais
Nom de la revue
World Bank Economic Review
(ISSN : 0258-6770, ISSN électronique : 1564-698X)
Publié par Oxford University Press (OUP)
Revue non référencée dans Sherpa-Romeo
Date de publication
2022-11
Volume
36
Numéro
4
Page/Identifiant
803-834
Vulgarisation
Non
Comité de lecture
Oui
Audience
Internationale
Public visé
Scientifique
Domaine(s)
Sciences de l'Homme et Société/Economies et finances
D - Microeconomics/D.D7 - Analysis of Collective Decision-Making/D.D7.D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E25 - Aggregate Factor Income Distribution
P - Economic Systems/P.P3 - Socialist Institutions and Their Transitions/P.P3.P36 - Consumer Economics • Health • Education and Training • Welfare, Income, Wealth, and Poverty
Mots-clés
en
Hong Kong, Wage distribution, Capital share, Wealth inequality, Political cleavage
Thomas Piketty, Li Yang. Income and Wealth Inequality in Hong Kong, 1981–2020: The Rise of Pluto-Communism?. World Bank Economic Review, 2022, 36 (4), pp.803-834. ⟨10.1093/wber/lhac019⟩. ⟨halshs-04157041⟩