Abstract
The widening industry income gap in Hong Kong has seriously hindered the balanced development of industry and sustained and healthy economic growth. Therefore, it is of great significance to explore the influence mechanism of industrial structure evolution on industry income gap and the relationship between them. This paper takes Hong Kong’s industrial structure evolution and industry income gap as the research object, and comprehensively uses statistical data and census data to analyze in detail the causal relationship between industrial structure evolution and industry income gap. Starting with the evolution of Hong Kong’s industrial structure, this paper follows the idea that the industrial structure determines the employment structure and thus affects the change of the industry income gap. Then we use agent variables which describe the nature of industrial structure evolution and industry income gap to conduct causality analysis and regression analysis to find the dynamic and quantitative relationship between them.
Highlights
Since its opening in 1841, Hong Kong has completed the transition from the “traditional economy” to the “industrial economy” to the “service economy”
The service-oriented of the industrial structure is the Granger cause of industry income gap and the internal specialization of the service industry is the Granger cause of industry income gap
This indicates that industrial structure evolution has a significant impact on the industry income gap in Hong Kong, which can be analyzed by regression analysis [14]
Summary
Since its opening in 1841, Hong Kong has completed the transition from the “traditional economy” to the “industrial economy” to the “service economy”. Hong Kong has suffered a series of external shocks such as the Asian financial crisis, SARS and the US subprime mortgage crisis, which have hit its economic growth to a certain extent, the actual economic growth has remained at a relatively high level. This paper attempts to study the relationship between the evolution of Hong Kong’s industrial structure and industry income gap. The main contribution of this paper is to discuss in detail the relationship between industrial structure evolution and industry income gap in Hong Kong, and to provide a new way of thinking for the study of industry income gap.
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