台灣財富分配2004-2014：以個人財產登錄資料推估

The Wealth Distribution in Taiwan 2004-2014: Evidence from the Individual Wealth Register Data

連賢明(Hsien-Ming Lien) ； 曾中信(Chung-Hsin Tseng) ； 楊子霆(Tzu-Ting Yang) ； 韓幸紋(Hsing-Wen Han) ； 羅光達(Kuang-Ta Lo)

《經濟論文叢刊》 49卷1期 (2021/03) Pp. 77-130

https://doi.org/10.6277/TER.202103_49(1).0003

摘要

本文使用財政部2004至2014年的財產登錄資料並結合資本化法，建構涵蓋房屋、土地、股票、存款、債券、金融票券與房屋貸款的個人財富資料。為確保結果貼近現實，我們以房地產實價登錄資料來計算房屋與土地價值，並在衡量股票時納入個人以投資公司持有的股權（即間接持股）。根據我們所建構的財富資料，台灣財富的吉尼係數（Gini coefficient）約爲0.79，前10％與前1％富豪的財富占比約爲62％與23％。台灣的財富不均數據低於美國，約略與瑞典、韓國相近。此外，財富分配在年齡分組中呈現明顯差異：全國財富在2004至2014年間呈現往50歲以上高齡人口集中的趨勢。

關鍵字

財富分配 ； 財富不均 ； 國富統計 ； 財稅資料庫

並列摘要

This paper estimates individual wealth distribution including houses, land, stocks, deposits, bonds, short-term transaction instruments, and mortgage by using the individual wealth register data of the Ministry of Finance from 2004 to 2014 and combining their with the method of capitalization. To ensure that the results are close to reality, we use the price data in the Actual Transaction Price of Real Estate to evaluate the values of houses and land. We also consider both direct and indirect holdings of stocks when we measure wealth. According to our calculation, the Gini coefficient of wealth in Taiwan is about 0.79, and the top 10% and top 1% wealth shares are 62% and 23% respectively. The wealth inequality in Taiwan is lower than in the U.S., approximating the results in Korea and Sweden. Moreover, the wealth in Taiwan between 2004 and 2014 showed a trend of concentration towards the elderly population over 50 years old.

並列關鍵字

wealth distribution ； wealth inequality ； national wealth ； administrative tax database

參考文獻

伍大開與陳國樑 (2018), “以遺產稅資料分析我國財富分配不均與財富之組成,” 《經濟論文叢刊》, 46(4), 523–567。 (Wu, Da-Kai and Joe Chen(2018), “An Estate Tax Data Analysis of Wealth Inequality and WealthComposition in Taiwan,” Taiwan Economic Review, 46(4), 523–567.)

朱敬一與康廷嶽 (2015), “經濟轉型中的 「社會不公平」,” 《台灣經濟預測與政策》, 45(2), 1–22。 (Chu, Cyrus C. Y. and Ting-Yueh Kang (2015),“Social Inequalities during Economic Transformation,” Taiwan EconomicForecast and Policy, 45(2), 1–22.)

沈哲穎 (2016), “台灣所得與財富分配之分析,” 碩士論文, 國立清華大學經濟學研究所。 (Shen, Zhe Ying (2016), “Distribution of Income andWealth in Taiwan,” MA thesis, National Tsing Hua University.)

林依伶與楊子霆 (2018), “經濟成長、薪資停滯? 初探台灣實質薪資與勞動生產力成長脫鉤之成因,” 《經濟論文》, 46(2), 263–322。 (Lin, Yi-Ling and Tzu-Ting Yang (2018), “Decoupling of Wage Growth and Productivity Growth in Taiwan: An Empirical Investigation,” Academia Economic Papers, 46(2), 263–322.)

林知微 (2016), “台灣資產報酬率,” 碩士論文, 國立台灣大學會計學研究所。 (Lin, Chih-Wei (2016), “Return on Land and Stocks in Taiwan,”MA thesis, National Taiwan University.)