Using Different Approaches to Evaluate Individual Social Equity in Transport

Inequalities not only exist in the field of economics in relation to income and wealth, but also in other areas, such as the transport sector, where access to and use of different transport modes varies markedly across population groups, and which provides the means to access everyday living activities. A key concern within the transport sector is that inequality has extended beyond the traditional measures of travel, and now covers a wide range of effects relating to social exclusion, freedom, well-being and being able to access reasonable opportunities and resources. In order to address the aforementioned issues, an important question to resolve is what type of methods can be used to measure inequalities in transport most effectively. Therefore, this study aims to apply different approaches, including the Capabilities Approach (CA) and a further six inequality indices, namely the Gini coefficient, the Atkinson index, the Palma ratio, the Pietra ratio, the Schutz coefficient and the Theil index, to the case study using the relatively migrant-rich lower-income neighbourhood of Tuqiao, in Beijing, in order to assess individual transport-related social inequity issues. The findings suggest that the CA is useful in assessing transport-related inequalities where there are significant barriers to the take up of accessibility, for example where there are high levels of disadvantaged groups and disaggregated analysis can be undertaken. The Palma ratio appears to have a larger effect than the Gini coefficient and the other inequality indices when measuring transport-related social inequity. In addition, we also found that most income inequality methods adapted from econometrics may be better suited to measuring transport-related social inequity between different regions, cities or countries, or within the same area, but at different points in time, rather than to measuring a single neighbourhood as a whole. Finally, we argue that to what extent politicians or transport planners can use appropriate management tools to measure transport-related social inequalities may be significant in terms of the progress that can be made in the fight against social inequity in the transport field

Shadow Banking and Systemic Risk in Europe and China

We compare the European and Chinese shadow banking systems. While the European shadow banking system is better developed than the Chinese shadow banking system, herd behavior and other factors in European markets create systemic risk, which contributed in part to the financial crisis. Dispersion of risk across the "under-developed" shadow banking system in China has led to some cases of localized, concentrated risk, but not to systemic risk. We discuss proposed European shadow banking regulation and its implications for systemic risk, and discuss what lessons China might glean from such policies. We also discuss what lessons China's diverse and systemically uncoordinated shadow banking sector might provide for Europe