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Income Inequality In China
China's current Economy of China, mainly market economy features a high degree of income inequality. According to the Asian Development Bank Institute, "before China implemented Chinese economic reform, reform and opening-up policies in 1978, its income distribution pattern was characterized as egalitarian in all aspects." A study published in the ''Proceedings of the National Academy of Sciences of the United States of America'' (PNAS) estimated that China's Gini coefficient increased from 0.30 to 0.55 between 1980 and 2002. At this time, the Gini coefficient for rural–urban inequality was only 0.16. , the official Gini coefficient in China was 0.465; inequality was at its highest in the 2000s, with numerous sources reporting a significant decline in the 2010s. History In a landmark paper published in the ''Review of Development Economics'', economists Ravi Kanbur and Xiaobo Zhang conclude that there have been three peaks of inequality in China in the last fifty years, "coinci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of China
The People's Republic of China is a Developing country, developing Mixed economy, mixed socialist market economy, incorporating Industrial policy, industrial policies and strategic Five-year plans of China, five-year plans. —Xu, Chenggang. "The Fundamental Institutions of China's Reforms and Development." Journal of Economic Literature, vol. 49, no. 4, American Economic Association, 2011, pp. 1076–151, . —Nee, Victor, and Sonja Opper. "Political Capital in a Market Economy." Social Forces, vol. 88, no. 5, Oxford University Press, 2010, pp. 2105–32, . —Shue Tuck Wong & Sun Sheng Han (1998) Whither China's Market Economy? The Case of Lijin Zhen, Geographical Review, 88:1, 29–46, —Gregory C. Chow (2005) The Role of Planning in China's Market Economy, Journal of Chinese Economic and Business Studies, 3:3, 193–203, —HUA, HUANG. "The Market Economy in China." Security Dialogue, vol. 24, no. 2, SAGE Publications, Ltd., 1993, pp. 175–79, . —Chow, Gregory C. "Devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Economic Association
The American Economic Association (AEA) is a learned society in the field of economics, with approximately 23,000 members. It publishes several peer-reviewed journals, including the Journal of Economic Literature, American Economic Review, and the Journal of Economic Perspectives. History and constitution The AEA was established in 1885 in Saratoga Springs, New York by younger progressive economists trained in the German historical school, including Richard T. Ely, Edwin Robert Anderson Seligman and Katharine Coman, the only woman co-founder; Since 1900, it has been under the control of academics. The Purposes of the Association are the following: 1) The encouragement of economic research, especially the historical and statistical study of the actual conditions of industrial life; 2) The issue of publications on economic subjects; 3) The encouragement of perfect freedom of economic discussion. The Association says that it takes no partisan attitude, nor does it comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Income
Real income is the income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level. Real variables such as real income and real GDP are variables that are measured in physical units, while nominal variables such as nominal income and nominal GDP are measured in monetary units. Therefore, real income is a more useful indicator of well-being since it measures the amount of goods and services that can be purchased with the income. Growth of real income is related to real gross national income per capita growth. According to the classical dichotomy theory, real variables and nominal variables are separate in the long run, so they are not influenced by each other. In other words, if the nominal starting income was 100 and there was 10% inflation (general rise in prices, for example, what cost 10 now costs 11), then with nominal income of still 100, one can buy roughly 9% less; so if nominal income was not a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palgrave Macmillan
Palgrave Macmillan is a British academic and trade publishing company headquartered in the London Borough of Camden. Its programme includes textbooks, journals, monographs, professional and reference works in print and online. It maintains offices in London, New York City, New York, Shanghai, Melbourne, Sydney, Hong Kong, Delhi and Johannesburg. Palgrave Macmillan was created in 2000 when St. Martin's Press in the US united with Macmillan Publishers in the UK to combine their worldwide academic publishing operations. The company was known simply as Palgrave until 2002, but has since been known as Palgrave Macmillan. It is a subsidiary of Springer Nature. Until 2015, it was part of the Macmillan Publishers, Macmillan Group and therefore wholly owned by the German publishing company Holtzbrinck Publishing Group (which still owns a controlling interest in Springer Nature). As part of Macmillan, it was headquartered at the Macmillan campus in Kings Cross, London with other Macmilla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Inequality Database
World Inequality Database (WID), previously The World Wealth and Income Database, also known as WID.world, is an extensive, open and accessible database "on the historical evolution of the world distribution of income and wealth, both within countries and between countries". World Inequality Lab The World Inequality Lab aims to promote research on global inequality dynamics. Its missions are the intension of the World Inequality Database, the production of analysis on global inequality dynamics, and the dissemination in the public debate. The Lab works in close coordination with a large international network of researchers (over one hundred researchers covering nearly seventy countries) contributing to the database, in a collaborative effort to extend the existing database, which provides data on both distribution of income and wealth, "as well as the distribution of different forms of capital assets, in the analyzed countries". The first WID, which was placed in an open sourc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gini Index
In economics, the Gini coefficient ( ), also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini. The Gini coefficient measures the inequality among the values of a frequency distribution, such as income levels. A Gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. In contrast, a Gini coefficient of 1 (or 100%) reflects maximal inequality among values, where a single individual has all the income while all others have none. Corrado Gini proposed the Gini coefficient as a measure of inequality of income or wealth. For OECD countries in the late 20th century, considering the effect of taxes and transfer payments, the income Gini coefficient ranged between 0.24 and 0.49, with Slovakia being the lowest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southwestern University Of Finance And Economics
The Southwestern University of Finance and Economics (SWUFE; ) is a public finance and economics university in Chengdu, Sichuan, China. It is affiliated with the Ministry of Education, and co-funded with the Sichuan Provincial People's Government. The university is part of Project 211 and the Double First-Class Construction. In December 2014, SWUFE’s School of Business Administration became the first business school in Western China to be accredited by the European Quality Improvement System. As of 2024, Southwestern University of Finance and Economics ranked # 1 in Western China and # 4 nationwide among universities specialized in finance, business, and economics in the Best Chinese Universities Ranking. The U.S. News & World Report ranks SWUFE at 4th in Asia and 23rd globally in Business and Economics. History The university traces its origins to the year 1925, when a group of students and academics from St. John’s University in Shanghai, led by the scholar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Xinhuanet
Xinhuanet is a state media company controlled by Xinhua News Agency. Headquartered in Beijing, it operates more than 30 local channels distributed across China and manages more than ten sub-websites of Xinhua News Agency. The company is listed on the Shanghai Stock Exchange. History The Xinhua website was established on November 7, 1997 and named the Xinhua News Agency Website with the URL: www.xinhua.org. In March 2000, it was renamed Xinhuanet. In July 2000, Xinhua Network Co., Ltd. was established and Xinhuanet used the new domain name www.xinhuanet.com. On December 12, 2000, Xinhuanet was approved to engage in news publishing business. On August 25, 2002, the second working floor of the Beijing Xidan Gaodeng Building was officially put into use. The total area of the website has reached more than 4,300 square meters, making it the largest Internet news publishing service platform of the Chinese Communist Party (CCP). In 2012, Xinhua launched a Uyghur language website. Con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Household-responsibility System
The household responsibility system ( zh, s=家庭联产承包责任制, t=家庭聯產承包責任制, p=jiātíng liánchǎn chéngbāo zérènzhì), or contract responsibility system, was a practice in China, first adopted in agriculture in 1979 and officially established in 1982, by which households are held responsible for the profits and losses of an enterprise. This system, which came to replace collective farming, maintained public ownership of land and some of the means of production, but made production the responsibility of households. Households still had to contribute to state quotas but could make their own decisions about what to plant on contracted land and could sell via a multi-tier price system that included the lowest price for payment to the state up until the quota, a higher rate for above-quota sales to the state, and market price for crops allowed to be sold at fairs. Overview The household responsibility system replaced collective farming. In the household ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disposable And Discretionary Income
Disposable income is total personal income minus current taxes on income. In national accounting, personal income minus personal current taxes equals disposable personal income or household disposable income. Subtracting personal outlays (which includes the major category of personal r privateconsumption expenditure) yields personal (or, private) savings, hence the income left after paying away all the taxes is referred to as disposable income. Restated, consumption expenditure plus savings equals disposable income after accounting for transfers such as payments to children in school or elderly parents' living and care arrangements. The marginal propensity to consume (MPC) is the fraction of a change in disposable income that is consumed. For example, if disposable income rises by $100, and $65 of that $100 is consumed, the MPC is 65%. Restated, the marginal propensity to save is 35%. For the purposes of calculating the amount of income subject to garnishments, United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
