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The Political Economy of Inclusive Growth: A Review
Author:
Mr. Simon Johnson
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and
Ms. Priscilla S Muthoora
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Series:
IMF Working Papers
Volume/Issue:
Volume 2021: Issue 082
Language:
English
Publication Date:
19 Mar 2021
DOI:
https://doi.org/10.5089/9781513574189.001
ISBN:
9781513574189
ISSN:
1018-5941
Pages:
40
Keywords:
Political Economy; Inequality; Redistribution; Growth; Labor program; income skew; skew of voter turnout; opposition to Redistribution; public social; Income inequality; Income; Inclusive growth; Fiscal redistribution; Global; Europe; Social protection spending; COVID-19; government policy; populist government; government commitment; inhibiting government responsiveness; government legitimacy
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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In this paper, we review the role of the political economy in inclusive growth. We find that political economy forces on the demand and supply side have weakened redistribution over time and contributed to a new wave of populism. We document growing support for a rethink of the social contract to make growth more inclusive and discuss some of its broad elements.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2021: Issue 082