Departmental Papers

Promoting Inclusive Growth in the Caucasus and Central Asia

ByMercedes Vera-Martín, Dominique Fayad, Rayah Al-Farah, Sergejs Saksonovs, Wei Shi, Fang Yang

May 16, 2019

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Mercedes Vera-Martín, Dominique Fayad, Rayah Al-Farah, Sergejs Saksonovs, Wei Shi, and Fang Yang. "Promoting Inclusive Growth in the Caucasus and Central Asia", Departmental Papers 2019, 008 (2019), accessed 12/4/2025, https://doi.org/10.5089/9781498313353.087

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Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined. Most of the progress occurred before the 2008–09 global financial crisis. Since then, poverty rates have barely moved and, for oil importers, remain elevated.

Subject: Economic growth, Economic sectors, Financial inclusion, Financial markets, Fiscal policy, Inclusive growth, International organization, Small and medium enterprises

Keywords: Asia and Pacific, CCA country, CCA economy, CCA government, CCA region, Central Asia and the Caucasus, DP, DPPP, Europe, Financial inclusion, fiscal policy effectiveness, Gini coefficient, Global, Inclusive growth, increase private sector participation, labor force, oil exporter, oil importer, private sector, Small and medium enterprises

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