Redistribution Inequality And Growth
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Redistribution Inequality And Growth
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Author : Mr.Jonathan David Ostry
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-17
Redistribution Inequality And Growth written by Mr.Jonathan David Ostry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-17 with Business & Economics categories.
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
Inequality And Growth
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Author : Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-18
Inequality And Growth written by Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-18 with Business & Economics categories.
The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a heterogeneous panel structural vector autoregression model, which addresses some empirical challenges plaguing the literature. We find that income inequality is converging across countries, and that its impact on economic growth is heterogeneous. In particular, while the median response of real per capita GDP growth to shocks in income inequality is negative and significant, the dispersion around the estimates is large, with at least one fourth of the countries in the sample presenting a positive effect. The results suggest that the negative effect is mainly driven by the Middle East and Central Asia and the Western Hemisphere across regions, and emerging markets across income levels. Finally, we find evidence that improved institutional frameworks can reduce the negative effect of income inequality on growth.
Polarization Politics And Property Rights
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Author : Philip Keefer
language : en
Publisher: World Bank Publications
Release Date : 2000
Polarization Politics And Property Rights written by Philip Keefer and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Crecimiento economico categories.
One strand of research argues that polarized societies find it difficult to reach political consensus on appropriate responses to crises. Another strand focuses on redistribution, asking whether income inequality stifles growth by increasing political incentives to redistribute. Which is right?
Inequality And Growth
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Author : Theo S. Eicher
language : en
Publisher: MIT Press
Release Date : 2007-01-26
Inequality And Growth written by Theo S. Eicher and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-26 with Business & Economics categories.
Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.
Inequality Redistribution And Mobility
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Author : Juan Gabriel Rodriguez
language : en
Publisher: Emerald Group Publishing
Release Date : 2020-11-26
Inequality Redistribution And Mobility written by Juan Gabriel Rodriguez and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-26 with Business & Economics categories.
Research on Economic Inequality's 28th volume provides original research on how inequality is affected by redistribution, growth, mobility and educational opportunities. Additional papers discuss poverty, welfare and wage discrimination.
Income Inequality Redistribution And Economic Growth
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Author : Giuseppe Arbia
language : en
Publisher: Springer Nature
Release Date : 2023-03-01
Income Inequality Redistribution And Economic Growth written by Giuseppe Arbia and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-01 with Business & Economics categories.
This book focuses on economic inequality, its measurement, and its relationship with economic growth and development. The current literature uses multiple points of view, ranging from ethical, legal, philosophical, to political and economic, to understand the nature of (in)equality. Presenting the problem objectively, this book shows how to measure the phenomenon statistically along with an international comparison of the level of income inequality and economic growth and of their complex relationship. The book also analyzes three decades of theoretical and empirical evidence to understand this phenomenon and discusses a number of political measures to reduce economic disparities while stimulating economic growth.
Asset Distribution Inequality And Growth
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Author : Klaus W. Deininger
language : en
Publisher:
Release Date : 2000
Asset Distribution Inequality And Growth written by Klaus W. Deininger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Crecimiento economico categories.
Policymakers addressing the impact of inequality on growth should be more concerned about households' access to assets - and to the opportunities associated with them - than about the distribution of income. Asset inequality - but not income inequality - has a relatively great negative impact on growth and also reduces the effectiveness of educational interventions.
Polarization Politics And Property Rights
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Author : Philip Keefer
language : en
Publisher:
Release Date : 2016
Polarization Politics And Property Rights written by Philip Keefer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
One strand of research argues that polarized societies find it difficult to reach political consensus on appropriate responses to crises. Another strand focuses on redistribution, asking whether income inequality stifles growth by increasing political incentives to redistribute. Which is right?Most efforts to trace the effects of income inequality on growth have focused on redistribution. However, empirical investigation has not substantiated either the positive association of income inequality with redistribution or the negative association of redistribution with economic growth.Keefer and Knack analyze the effects of inequality in the broader context of social polarization. They argue that social polarization, whether rooted in income inequality or in ethnic tension, makes large changes in current policies (including those guaranteeing the security of contract and property rights) more likely under a wide range of institutional arrangements. The resulting uncertainties in the policy and contractual environment hinder growth.They find strong empirical support for both parts of this argument.The policy implications of their argument are quite distinct from those of arguments that inequality reduces growth by increasing pressures for redistribution.If redistributive policies per se were to blame for the low growth resulting from inequality, governments that seek to mitigate income inequality must inevitably confront a tradeoff between equity and growth.If, on the other hand, the insecurity of property rights slows growth in unequal or otherwise polarized societies, governments that commit over the long run to particular redistributive policies incur less risk of slowing economic growth. Fiscal redistribution that reduces inequality may actually increase growth by reducing the risks of political uncertainty.This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to understand the interplay of institutions and economic development. The authors may be contacted at [email protected] or [email protected].
Income Distribution And High Quality Growth
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Author : Vito Tanzi
language : en
Publisher: MIT Press
Release Date : 1998
Income Distribution And High Quality Growth written by Vito Tanzi and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
The contributors argue that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth. The contrast is vivid. While the majority of people in the industrial world and some in the developing world enjoy unprecedented affluence, a far greater number of people in the low-income countries live in abject poverty. Although several developing countries are achieving rapid economic growth and poverty reduction, most formerly centrally planned countries are struggling to implement market-oriented reforms in the midst of economic deterioration and rising poverty. The paramount importance of reducing poverty worldwide is forcing economists and policymakers to look at how income distribution and economic growth interact. The essays in this volume grew out of a 1995 conference sponsored by the International Monetary Fund. The contributors are scholars and policymakers from academic institutions, governments, and international organizations. The questions discussed include: How does income distribution interact with economic growth in the short run and the long run? To what extent can government use transfer programs to increase the incomes of the poor? How can government use social programs to help the poor increase their income-earning capacity? Does distributional inequality create an obstacle to long-term poverty reduction? Alternatively, is distributional inequality a necessary means of achieving economic growth? Generally, the contributors agree that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth.
Inequality And Fiscal Policy
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Author : Mr.Benedict J. Clements
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-21
Inequality And Fiscal Policy written by Mr.Benedict J. Clements and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-21 with Business & Economics categories.
The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.