{
  "title": "Growth That Reaches Everyone: Facts, Factors, Tools",
  "publication": "IMF Blog, September 20, 2017",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2017/09/20/growth-that-reaches-everyone-facts-factors-tools",
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  "summary": "Authors: Rupa Duttagupta, Stefania Fabrizio, Davide Furceri, Sweta Saxena",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Authors: Rupa Duttagupta, Stefania Fabrizio, Davide Furceri, Sweta Saxena\n- Date: September 20, 2017\n- Main premise: Economic growth provides the basis for overcoming poverty and lifting living standards, but for growth to be sustained and inclusive, its benefits must reach all people.\n- Core concern: Persistent lack of inclusion—defined as broadly shared benefits and opportunities for economic growth—can fray social cohesion and undermine the sustainability of growth."
    },
    {
      "heading": "A few facts (inequality and exclusion)",
      "content": "- Global income inequality has been declining when the world is considered, driven largely by strong growth in many emerging market and developing economies.\n- Two-thirds of global inequality is still attributable to differences in average income between countries.\n- If countries are considered individually, income inequality rose sharply in many places, with the bulk of the gap opening in the most advanced economies from the 1990s until the mid-2000s.\n- Emerging market and developing economies: inequality is still high, even though it declined in recent decades in many of them.\n- Labor and service exclusion:\n  - \"over 200 million people around the world are unemployed, with youth unemployment at alarming levels in many countries.\"\n  - \"Mortality rates for some segments of the population are increasing, including in the United States.\"\n  - \"Twenty percent of adults in advanced economies remain excluded from formal access to finance: for example, they do not have an account with a financial institution.\"\n  - Widespread gender discrimination has led to persistent differences in health, education and incomes between men and women in large parts of the world."
    },
    {
      "heading": "Drivers: technology, trade, and integration",
      "content": "- Technology:\n  - Has brought large benefits to many economies.\n  - Increased the demand almost exclusively for skilled labor.\n- Trade and economic integration:\n  - Have been driving forces behind growth and productivity, and lowered prices, benefiting the poor who spend a large share of their incomes on basic goods.\n  - Have sometimes displaced lower-skilled workers; greater integration has resulted in relocation of factories and greater use of equipment, displacing workers.\n- Net effect: benefits from technology and trade have not always been broadly shared."
    },
    {
      "heading": "Policy options to encourage growth for all",
      "content": "- General principle: Do not hold off on productivity-boosting reforms; rather design complementary policies that offer opportunities for all and mitigate tradeoffs between growth and inequality.\n- Public investment and services:\n  - \"More—and more efficient—spending on roads, airports, power grids and education can create jobs and boost economic growth.\"\n- Financial inclusion:\n  - Broadening access to financial services—combined with measures to ensure financial stability—gives more people and firms the opportunity to consume and invest; examples cited: India, Mexico, Rwanda.\n- Labor market measures:\n  - Assistance with job search and job matching and training programs help the jobless find work that matches their skills.\n  - Countries with high participation in such programs—Finland and Germany—have the lowest long-term unemployment rates among European Union countries.\n- Property rights:\n  - Better property rights boost security to individuals, encourage labor mobility, discourage informal work, and support inclusive growth.\n- Fiscal policy:\n  - Powerful instrument for ensuring inclusive growth and has played a key role in addressing inequality.\n  - Examples of fiscal measures:\n    - Closing outcome gaps in education and health between advantaged and disadvantaged groups can reduce inequality and promote growth.\n    - Social benefits, such as cash transfers, can help protect the most vulnerable.\n    - Revenue mobilization raises needed financing for social spending and may also contribute to lowering inequality.\n  - Design matters so the fiscal policy mix can best balance equality and efficiency."
    },
    {
      "heading": "Trade, technology, and complementary domestic policies",
      "content": "- Key point: Domestic policies determine whether trade and technology translate into inclusive growth.\n- Evidence from IMF studies:\n  - Measures that encourage foreign trade boost growth, but can increase inequality if they displace low-skilled workers.\n  - Attendant reforms—such as accessible education targeted to raise income and productivity of low-skilled workers—can boost growth while reducing inequality."
    },
    {
      "heading": "Implementation and IMF role",
      "content": "- Extending the fruits of growth to the widest possible group requires sustained effort and global cooperation as recognized by the G20.\n- The IMF's contribution: continue to work with policymakers around the world—through research, technical assistance and surveillance work—to help achieve inclusive growth.\n\nGrowth That Reaches Everyone: Facts, Factors, Tools — Rupa Duttagupta, Stefania Fabrizio, Davide Furceri, Sweta Saxena; September 20, 2017.\n\n---\n\n Content in this bundle\n\n- 全ての人に届く経済成長 ― 事実、要因、ツール; ルパ・ドゥタグプタ、ステファニア・ファブリジオ、ダビデ・ヒューセリ、スウェタ・サクセナ IMF ブログ 2017年9月20日掲載\n  - 全ての人に届く経済成長 ― 事実、要因、ツール; ルパ・ドゥタグプタ、ステファニア・ファブリジオ、ダビデ・ヒューセリ、スウェタ・サクセナ IMF ブログ 2017年9月20日掲載 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 全ての人に届く経済成長 ― 事実、要因、ツール; ルパ・ドゥタグプタ、ステファニア・ファブリジオ、ダビデ・ヒューセリ、スウェタ・サクセナ IMF ブログ 2017年9月20日掲載 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Рост, который приносит благо всем: факты, факторы, инструменты\n  - Рост, который приносит благо всем: факты, факторы, инструменты (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Рост, который приносит благо всем: факты, факторы, инструменты (PDF){rel=\"external\" type=\"application/pdf\"}\n- 062617\n  - 062617 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 062617 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- https://www.imf.org/wp-content/uploads/2017/09/BLOG-1024x600-BRAZIL-Sao-Paulo-Unemployed-people-line-up-in-front-of-charity-housePaulo-WhitakerReutersNewscom.rtrleight818207.jpg\n- https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growthchart1-1.jpg\n- https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growthchart2-1.jpg\n- studies\n\nSource: https://www.imf.org/en/blogs/articles/2017/09/20/growth-that-reaches-everyone-facts-factors-tools"
    }
  ],
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    "[Structured JSON version](/en/blogs/articles/2017/09/20/growth-that-reaches-everyone-facts-factors-tools/index.json)",
    "[Bundle manifest](/en/blogs/articles/2017/09/20/growth-that-reaches-everyone-facts-factors-tools/bundle-manifest.json)",
    "Authors: Rupa Duttagupta, Stefania Fabrizio, Davide Furceri, Sweta Saxena",
    "Published: September 20, 2017",
    "Authors: Rupa Duttagupta, Stefania Fabrizio, Davide Furceri, Sweta Saxena",
    "Date: September 20, 2017",
    "Main premise: Economic growth provides the basis for overcoming poverty and lifting living standards, but for growth to be sustained and inclusive, its benefits must reach all people.",
    "Core concern: Persistent lack of inclusion—defined as broadly shared benefits and opportunities for economic growth—can fray social cohesion and undermine the sustainability of growth.",
    "Global income inequality has been declining when the world is considered, driven largely by strong growth in many emerging market and developing economies.",
    "Two-thirds of global inequality is still attributable to differences in average income between countries.",
    "If countries are considered individually, income inequality rose sharply in many places, with the bulk of the gap opening in the most advanced economies from the 1990s until the mid-2000s.",
    "Emerging market and developing economies: inequality is still high, even though it declined in recent decades in many of them.",
    "Labor and service exclusion:",
    "Technology:",
    "Trade and economic integration:",
    "Net effect: benefits from technology and trade have not always been broadly shared.",
    "General principle: Do not hold off on productivity-boosting reforms; rather design complementary policies that offer opportunities for all and mitigate tradeoffs between growth and inequality.",
    "Public investment and services:",
    "Financial inclusion:",
    "Labor market measures:",
    "Property rights:",
    "Fiscal policy:",
    "Key point: Domestic policies determine whether trade and technology translate into inclusive growth.",
    "Evidence from IMF studies:",
    "Extending the fruits of growth to the widest possible group requires sustained effort and global cooperation as recognized by the G20.",
    "The IMF's contribution: continue to work with policymakers around the world—through research, technical assistance and surveillance work—to help achieve inclusive growth.",
    "**全ての人に届く経済成長 ― 事実、要因、ツール; ルパ・ドゥタグプタ、ステファニア・ファブリジオ、ダビデ・ヒューセリ、スウェタ・サクセナ IMF ブログ 2017年9月20日掲載**",
    "**Рост, который приносит благо всем: факты, факторы, инструменты**",
    "**062617**",
    "[https://www.imf.org/wp-content/uploads/2017/09/BLOG-1024x600-BRAZIL-Sao-Paulo-Unemployed-people-line-up-in-front-of-charity-house_Paulo-Whitaker_Reuters_Newscom.rtrleight818207.jpg](https://www.imf.org/wp-content/uploads/2017/09/BLOG-1024x600-BRAZIL-Sao-Paulo-Unemployed-people-line-up-in-front-of-charity-house_Paulo-Whitaker_Reuters_Newscom.rtrleight818207.jpg)",
    "[https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growth_chart1-1.jpg](https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growth_chart1-1.jpg)",
    "[https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growth_chart2-1.jpg](https://www.imf.org/wp-content/uploads/2017/09/IMF.Inclusive-growth_chart2-1.jpg)",
    "[studies](https://blogs.imf.org/2017/01/26/the-fruits-of-growth-economic-reforms-and-lower-inequality/)"
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      "title": "全ての人に届く経済成長 ― 事実、要因、ツール; ルパ・ドゥタグプタ、ステファニア・ファブリジオ、ダビデ・ヒューセリ、スウェタ・サクセナ IMF ブログ 2017年9月20日掲載",
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