Income Inequality of Korea for Urban, Farm and Fishery Households, and Determinants of Household Income

Myungjae Sung

Journal of Rural Development/Nongchon-Gyeongje, 2019, vol. 42, issue 2

Abstract: This paper estimates income inequality of all types of households including farm, fishery, and urban households in Korea. It also investigates income gaps among them by analyzing the determinants of household income. The average household income was KRW 57.2 million, KRW 37.2 million and KRW 43.9 million for urban, farm and fishery households in 2015, respectively. Their Gini coefficients were estimated to be 0.335, 0.425, 0.491, respectively. An additional analysis showed that it was 0.344 for all of the households. Income inequality in each group and the entire pooled sample continuously rose through the period analyzed; between 2003 and 2015. Decomposition analyses based on regression models showed that the income gaps between urban and farm households, as well as between urban and fishery households, stemmed mostly from the differences in educational attainments and household size, and partially from differences in age and gender of head of households.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:330760

DOI: 10.22004/ag.econ.330760

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