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Under-consumption, trade surplus, and income inequality in China
Kenneth S. Chan1,3; Vinh Q.T. Dang1; Tingting Li2; Jacky Y.C. So1
2016-05
Source PublicationInternational Review of Economics and Finance
ISSN1059-0560
Volume43Pages:241-256
Abstract

It has recently been shown that rising income inequality had contributed to increase in savings of the rich and decrease in consumption of the poor, pressuring politicians to permit cheap loans for the poor from the rich. The resultant lending boom created a massive run-up in the housing prices and ensuing mortgage crisis in the US. In China, capital markets are underdeveloped and the poor may not be able to borrow from the rich. Employing Chinese provincial panel data and a variety of estimators, we find that rising income inequality significantly lowers consumption and, consequently, raises China's current account surplus.

KeywordChina E21 Income Inequality O15 O53 Trade Surplus Under-consumption
DOIhttps://doi.org/10.1016/j.iref.2016.02.013
URLView the original
Indexed BySCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectBusiness, Finance ; Economics
WOS IDWOS:000375632300018
PublisherELSEVIER SCIENCE BV, PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
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Cited Times [WOS]:2   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Corresponding AuthorVinh Q.T. Dang
Affiliation1.University of Macau, Macau
2.School of Management, University of Science and Technology of China, Hefei, China
3.McMaster University, Hamilton, Canada
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Kenneth S. Chan,Vinh Q.T. Dang,Tingting Li,et al. Under-consumption, trade surplus, and income inequality in China[J]. International Review of Economics and Finance,2016,43:241-256.
APA Kenneth S. Chan,Vinh Q.T. Dang,Tingting Li,&Jacky Y.C. So.(2016).Under-consumption, trade surplus, and income inequality in China.International Review of Economics and Finance,43,241-256.
MLA Kenneth S. Chan,et al."Under-consumption, trade surplus, and income inequality in China".International Review of Economics and Finance 43(2016):241-256.
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