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The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality in Asia
Author:
Mr. Ravi Balakrishnan
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,
Mr. Chad Steinberg
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, and
Mr. Murtaza H Syed
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Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 152
Language:
English
Publication Date:
26 Jun 2013
DOI:
https://doi.org/10.5089/9781475531169.001
ISBN:
9781475531169
ISSN:
1018-5941
Pages:
36
Keywords:
WP; Gini coefficient; labor market; financial market; Asia; Inequality; Inclusive Growth; Poverty; Fiscal Policy; Financial Markets; income elasticity; income growth; cost of capital; elasticities of poverty; poverty headcount; Income; Income inequality; Minimum wages; Poverty reduction; Asia and Pacific; South Asia; Middle East; North Africa; East Africa
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the last two decades, inequality has increased, dampening the impact of growth on poverty reduction. As a result, relative to other emerging and developing regions and to Asia’s own past, the recent period of growth has been both less inclusive and less pro-poor. Our analysis suggests a number of policies that could help redress these trends and broaden the benefits of growth in Asia. These include fiscal policies to increase spending on health, education, and social safetynets; labor market reforms to boost the labor share of total income; and reforms to make financial systems more inclusive.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund