The Elusive Quest for Inclusive Growth : Growth, Poverty, and Inequality in Asia

Author/Editor: Ravi Balakrishnan ; Chad Steinberg ; Murtaza H. Syed
Publication Date: June 26, 2013
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: 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.
Series: Working Paper No. 13/152
Subject(s): Economic growth | Asia | Fiscal policy | Government expenditures | Social safety nets | Labor market reforms | China

Publication Date: June 26, 2013
ISBN/ISSN: 9781475531169/1018-5941 Format: Paper
Stock No: WPIEA2013152 Pages: 36
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