{
  "title": "Macro-Structural Policies and Income Inequality in Low-Income Developing Countries",
  "publication": "Staff Discussion Notes, January 26, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/staff-discussion-notes/issues/2017/01/26/macro-structural-policies-and-income-inequality-in-low-income-developing-countries-44526",
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  "summary": "Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries.",
  "sections": [
    {
      "heading": "Overview and context",
      "content": "- Authors: Stefania Fabrizio, Davide Furceri, Rodrigo Garcia-Verdu, Grace B Li, Sandra Valentina Lizarazo, Marina Mendes Tavares, Futoshi Narita\n- Publication date: January 26, 2017\n- Series: Staff Discussion Notes No. 2017/001, Issue 001, Volume 2017, Pages: 42\n- DOI: https://doi.org/10.5089/9781475566222.006\n- ISBN: 9781475566222\n- ISSN: 2617-6750"
    },
    {
      "heading": "Key findings",
      "content": "- Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries.\n- High levels of inequality can impair the sustainability of growth and macroeconomic stability, and can limit countries’ ability to reach the Sustainable Development Goals.\n- Macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences.\n- The impact of such policies on income inequality depends on both:\n  - the design of the reforms, and\n  - country-specific economic characteristics.\n- There is no one-size-fits-all recipe for ensuring that growth-promoting macro-structural reforms are distributionally neutral or progressive."
    },
    {
      "heading": "Analytical approach",
      "content": "- The note uses empirical and modeling techniques to assess distributional consequences of macro-structural policies in low-income developing countries."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Governments can address adverse distributional consequences of pro-growth reforms by designing reform packages that make pro-growth policies also more inclusive.\n- Policy design should account for country-specific economic characteristics to mitigate negative distributional outcomes."
    },
    {
      "heading": "Subjects and keywords (as listed in the source)",
      "content": "- Subjects: Agricultural sector, Economic sectors, Income, Income distribution, Income inequality, National accounts, Taxes, Value-added tax\n- Keywords: Agricultural sector, agriculture, Caribbean, cash transfer program, cost of capital, financial inclusion, financial sector reform, growth, higher-productivity sector, Income, Income distribution, income fluctuation, Income inequality, inequality in low-income developing countries, infrastructure investment, macro-structural policies, productivity, productivity gap, rate, resource mobilization, revenue, SDN, Value-added tax\n\nStaff Discussion Note: Macro-Structural Policies and Income Inequality in Low-Income Developing Countries (Staff Discussion Notes 2017, 001).\n\n---\n\n Content in this bundle\n\n- MACRO-STRUCTURAL POLICIES AND INCOME INEQUALITY IN LOW-INCOME DEVELOPING COUNTRIES\n  - MACRO-STRUCTURAL POLICIES AND INCOME INEQUALITY IN LOW-INCOME DEVELOPING COUNTRIES (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - MACRO-STRUCTURAL POLICIES AND INCOME INEQUALITY IN LOW-INCOME DEVELOPING COUNTRIES (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/staff-discussion-notes/issues/2017/01/26/macro-structural-policies-and-income-inequality-in-low-income-developing-countries-44526"
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    "Authors: Stefania Fabrizio, Davide Furceri, Rodrigo Garcia-Verdu, Grace B Li, Sandra Lizarazo, Marina Mendes Tavares, Futoshi Narita",
    "Published: January 26, 2017",
    "Series: Staff Discussion Notes",
    "DOI: https://doi.org/10.5089/9781475566222.006",
    "Authors: Stefania Fabrizio, Davide Furceri, Rodrigo Garcia-Verdu, Grace B Li, Sandra Valentina Lizarazo, Marina Mendes Tavares, Futoshi Narita",
    "Publication date: January 26, 2017",
    "Series: Staff Discussion Notes No. 2017/001, Issue 001, Volume 2017, Pages: 42",
    "DOI: https://doi.org/10.5089/9781475566222.006",
    "ISBN: 9781475566222",
    "ISSN: 2617-6750",
    "Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries.",
    "High levels of inequality can impair the sustainability of growth and macroeconomic stability, and can limit countries’ ability to reach the Sustainable Development Goals.",
    "Macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences.",
    "The impact of such policies on income inequality depends on both:",
    "There is no one-size-fits-all recipe for ensuring that growth-promoting macro-structural reforms are distributionally neutral or progressive.",
    "The note uses empirical and modeling techniques to assess distributional consequences of macro-structural policies in low-income developing countries.",
    "Governments can address adverse distributional consequences of pro-growth reforms by designing reform packages that make pro-growth policies also more inclusive.",
    "Policy design should account for country-specific economic characteristics to mitigate negative distributional outcomes.",
    "Subjects: Agricultural sector, Economic sectors, Income, Income distribution, Income inequality, National accounts, Taxes, Value-added tax",
    "Keywords: Agricultural sector, agriculture, Caribbean, cash transfer program, cost of capital, financial inclusion, financial sector reform, growth, higher-productivity sector, Income, Income distribution, income fluctuation, Income inequality, inequality in low-income developing countries, infrastructure investment, macro-structural policies, productivity, productivity gap, rate, resource mobilization, revenue, SDN, Value-added tax",
    "**MACRO-STRUCTURAL POLICIES AND INCOME INEQUALITY IN LOW-INCOME DEVELOPING COUNTRIES**"
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