Archive | Poverty RSS feed for this section Economics, Environment, Infrastructure, Population, Poverty, Social development and protection, Urban developmentEconomics, Education, Finance sector development, Governance and public sector management, Poverty, Social development and protectionEconomics, Finance sector development, PovertyEconomics, Education, Governance and public sector management, PovertyPoverty
This article evaluates housing policy in the Republic of Korea over the past 5 decades or so, and describes new challenges arising from the changing environment. The most pressing housing problem in the early phase of development of the Republic of Korea was an absolute shortage of housing. The country addressed this problem with the pragmatic approach of engaging the market using government intervention as leverage.
The fiscal burden of public pensions in most emerging Asian economies is relatively small, reflecting relatively young populations and limited coverage of the retired-age population in public pension programs. Nonetheless, these conditions are likely to change dramatically in the coming decades. First, many Asian economies will face rapidly aging populations, which will raise pension and other old-age-related spending substantially. Second, as economies develop, political pressures to expand the coverage of public pensions and raise the level of pension benefits relative to income will likely increase.
In theory, a distortion refers to a departure from the perfect competitive equilibrium with no externalities and in which resources have been optimally allocated so that each economic agent maximizes his or her own welfare. Thus, distortions are closely associated with market imperfections. In reality, an economy with no distortions does not exist—both advanced and developing economies use government interventions, such as stabilization policies, development strategies, industrial policies, administrative regulations, and so forth, which can be viewed as distortions, broadly defined.
Japan and the United States (US) are at similar levels of economic development, yet their income distributions are considerably different. Whereas Japan has a relatively equal income distribution, the US is marked by a high level of income inequality. What are the sources of income inequality in both countries? Our latest research aims to uncover the sources on income inequality in both countries by exploiting detailed household panel survey.
Subscribe / Connect to Asia Pathways
- Agriculture and natural resources
- Capacity development
- Climate change
- Finance sector development
- Governance and public sector management
- Industry and trade
- Information and Communications Technology
- Private sector development
- Regional cooperation and integration
- Social development and protection
- Urban development
- Video Blog
- Moving beyond GDP: Well-being and degrowth development alternatives
- COVID-19 and policy responses through the lens of global asset markets and capital flows
- Overcoming the challenge of energy efficiency financing in Asia
- World competition among cities: City trends and the framing of a livable city
- Exploring the link between climate change and sovereign risk