{
  "title": "Fair and Inclusive Markets: Why Dynamism Matters",
  "publication": "IMF Working Papers, February 5, 2021",
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  "summary": "We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Authors: Reda Cherif, Fuad Hasanov\n- Date: February 5, 2021\n- Core thesis: \"We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation.\"\n- Central argument: Economies that achieved high sustained growth and low market income inequality are characterized by dynamism—a drive toward sophisticated export industries, innovation, and creative destruction and a high level of competition.\n- Emphasis: \"What a country produces and how much it competes domestically and internationally are important for achieving fair and inclusive markets.\"\n- Scope: Exploration of policy options to steer industrial and market structures toward providing growth opportunities for both workers and firms."
    },
    {
      "heading": "Key findings and evidence",
      "content": "- There may not be a tradeoff between market income inequality and high sustained growth; both can coexist.\n- Characteristics of successful economies with both high growth and low market income inequality:\n  - Dynamism toward sophisticated export industries.\n  - Innovation and creative destruction.\n  - High level of competition.\n- Market structure determinants highlighted:\n  - Production composition (what a country produces).\n  - Degree of domestic and international competition."
    },
    {
      "heading": "Policy options and implications",
      "content": "- The paper explores policy options aimed at:\n  - Steering industrial structure toward more sophisticated activities.\n  - Promoting innovation and creative destruction.\n  - Increasing domestic and international competition.\n  - Providing growth opportunities for both workers and firms."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Competition, Inclusive growth, Income, Income distribution, Income inequality\n- Keywords: creative destruction, industrial policy, Inequality, innovation, laggard firm, manufacturing, market power, monopsony power, panel data, sophistication, supply firm, technology company, WP\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/02/06/fair-and-inclusive-markets-why-dynamism-matters-50052"
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    "Authors: Reda Cherif, Fuad Hasanov",
    "Published: February 5, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513568669.001",
    "Authors: Reda Cherif, Fuad Hasanov",
    "Date: February 5, 2021",
    "Core thesis: \"We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation.\"",
    "Central argument: Economies that achieved high sustained growth and low market income inequality are characterized by dynamism—a drive toward sophisticated export industries, innovation, and creative destruction and a high level of competition.",
    "Emphasis: \"What a country produces and how much it competes domestically and internationally are important for achieving fair and inclusive markets.\"",
    "Scope: Exploration of policy options to steer industrial and market structures toward providing growth opportunities for both workers and firms.",
    "There may not be a tradeoff between market income inequality and high sustained growth; both can coexist.",
    "Characteristics of successful economies with both high growth and low market income inequality:",
    "Market structure determinants highlighted:",
    "The paper explores policy options aimed at:",
    "Subject: Competition, Inclusive growth, Income, Income distribution, Income inequality",
    "Keywords: creative destruction, industrial policy, Inequality, innovation, laggard firm, manufacturing, market power, monopsony power, panel data, sophistication, supply firm, technology company, WP",
    "**Working Paper**"
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