Financialization and Economic Inequality in Hong Kong : The Cost of the Finance-led Growth Regime

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

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Author(s)

  • Kim Ming Lee
  • Benny Ho Pong To
  • Kar Ming Yu

Detail(s)

Original languageEnglish
Title of host publicationHong Kong 20 Years after the Handover
Subtitle of host publicationEmerging Social and Institutional Fractures After 1997
EditorsBrian C.H. Fong, Tai-Lok Lui
PublisherPalgrave Macmillan
Pages127-151
ISBN (Electronic)978-3-319-51373-7
ISBN (Print)978-3-319-51372-0
Publication statusPublished - 2018

Publication series

NameStudies in the Political Economy of Public Policy

Abstract

Most researches tend to attribute economic inequality in Hong Kong to economic restructuring (Ho, Wei and Wong 2005, Zhao and Zhang 2005), globalization (Lee et al. 2007; Chiu and Lui 2004) and inadequate social policies (Goodstadt 2014; Chou and Chow 2005). While these factors are important, these analyses overlook the role of financialization, especially its impact on the wealth gap and social protection. Financialization is a global phenomenon, and appreciation of this factor in the Hong Kong context is crucial for explaining why several policy initiatives, such as the Mandatory Provident Fund (MPF), have paved ways for patrimonial capitalism (cf. Piketty 2014). We intend to fill this gap.

Research Area(s)

  • SOCIAL POLARIZATION, SHAREHOLDER VALUE, HOUSING-MARKET, REAL-ESTATE, GLOBAL CITY, ACCUMULATION, CAPITALISM, POLICY, MEDIA, 1990S

Citation Format(s)

Financialization and Economic Inequality in Hong Kong : The Cost of the Finance-led Growth Regime. / Lee, Kim Ming; To, Benny Ho Pong; Yu, Kar Ming.

Hong Kong 20 Years after the Handover: Emerging Social and Institutional Fractures After 1997. ed. / Brian C.H. Fong; Tai-Lok Lui. Palgrave Macmillan, 2018. p. 127-151 (Studies in the Political Economy of Public Policy).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review