Promoting Inclusive Growth in the Caucasus and Central Asia
Departmental Papers, May 16, 2019
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- Promoting Inclusive Growth in the Caucasus and Central Asia
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Bibliographic details
- Authors: Mercedes Vera-Martín, Dominique Fayad, Rayah Al-Farah, Sergejs Saksonovs, Wei Shi, Fang Yang
- Published: May 16, 2019
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781498313353.087
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.
Key findings and themes
- Inclusiveness indicators improved over the past 20 years: income levels rose; poverty, inequality, and unemployment declined.
- Timing of gains: the bulk of improvements took place before the 2008–09 global financial crisis.
- Post-crisis stagnation: after the crisis, poverty reduction largely stalled.
- Oil importers face elevated poverty rates relative to other CCA countries.
Subjects and keywords (as listed)
- 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