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Factors that account for the wealth inequality differences between post-socialist countries
عوامل موثر بر تفاوت های نابرابری ثروت بین کشورهای پس از سوسیالیستی-2021 In general, there are significant cross-country differences in wealth inequality. Recent research has documented
that household socio-economic characteristics do not explain these differences across advanced economies. Thus,
this study is the first to examine the determinants of such disparities in wealth inequality between five postsocialist emerging markets of Central and Eastern Europe (CEE). Based on the findings, the differences in
homeownership rates accounted for up to 42% of the cross-country disparities in wealth inequality (when
measured with the Gini index) and for as much as 63%–109% of wealth inequalities in the bottom part of the
distribution. However, our results are not sensitive to the significant underestimation of top wealth values
observed in household survey data. We argue that the differences in homeownership rates among the CEE
countries are related, among others, to varying government support for mortgage loans before the global financial
crisis (2003–2007) and the degree of government help for indebted households after the crisis.
keywords: نابرابری ثروت | تجزیه | مرکزی و شرقی اروپا (CEE) | مالکیت خانه | گمشده غنی | Wealth inequality | Decomposition | Central and Eastern Europe (CEE) | Homeownership | Missing rich |
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