Macroeconomic Structural Policies And Income Inequality In Low Income Developing Countries

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Macro-Structural Policies and Income Inequality in Low-Income Developing Countries

Ms.Stefania Fabrizio,Davide Furceri,Mr.Rodrigo Garcia-Verdu,Bin Grace Li,Mrs.Sandra V Lizarazo Ruiz,Ms.Marina Mendes Tavares,Mr.Futoshi Narita,Adrian Peralta-Alva
Macro Structural Policies and Income Inequality in Low Income Developing Countries Book PDF

Author : Ms.Stefania Fabrizio,Davide Furceri,Mr.Rodrigo Garcia-Verdu,Bin Grace Li,Mrs.Sandra V Lizarazo Ruiz,Ms.Marina Mendes Tavares,Mr.Futoshi Narita,Adrian Peralta-Alva
Publisher : International Monetary Fund
Page : 42 pages
File Size : 40,6 Mb
Release : 2017-01-26
Category : Business & Economics
ISBN : 9781475566222

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Macro-Structural Policies and Income Inequality in Low-Income Developing Countries by Ms.Stefania Fabrizio,Davide Furceri,Mr.Rodrigo Garcia-Verdu,Bin Grace Li,Mrs.Sandra V Lizarazo Ruiz,Ms.Marina Mendes Tavares,Mr.Futoshi Narita,Adrian Peralta-Alva Pdf

Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair the sustainability of growth and macroeconomic stability, thereby also limiting countries’ ability to reach the Sustainable Development Goals. This underscores the importance of understanding how policies aimed at boosting economic growth affect income inequality. Using empirical and modeling techniques, the note confirms that macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences, with the impact dependent on both the design of reforms and on country-specific economic characteristics. While there is no one-size-fits-all recipe, the note explores how governments can address adverse distributional consequences of reforms by designing reform packages to make pro-growth policies also more inclusive.

Macroeconomic Structural Policies and Income Inequality in Low-Income Developing Countries

MsStefania Fabrizio
Macroeconomic Structural Policies and Income Inequality in Low Income Developing Countries Book PDF

Author : MsStefania Fabrizio
Publisher : Unknown
Page : 0 pages
File Size : 46,8 Mb
Release : 2017
Category : Birth control
ISBN : OCLC:1382700353

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Macroeconomic Structural Policies and Income Inequality in Low-Income Developing Countries by MsStefania Fabrizio Pdf

Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair the sustainability of growth and macroeconomic stability, thereby also limiting countries' ability to reach the Sustainable Development Goals. This underscores the importance of understanding how policies aimed at boosting economic growth affect income inequality. Using empirical and modeling techniques, the note confirms that macro-structural policies aimed at raising growth payoffs in low-income developing countries can have important distributional consequences, with the impact dependent on both the design of reforms and on country-specific economic characteristics. While there is no one-size-fits-all recipe, the note explores how governments can address adverse distributional consequences of reforms by designing reform packages to make pro-growth policies also more inclusive.

Macroprudential Policy, Incomplete Information and Inequality

Margarita Rubio,Ms.Filiz D Unsal
Macroprudential Policy Incomplete Information and Inequality Book PDF

Author : Margarita Rubio,Ms.Filiz D Unsal
Publisher : International Monetary Fund
Page : 36 pages
File Size : 51,9 Mb
Release : 2017-03-22
Category : Business & Economics
ISBN : 9781475588057

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Macroprudential Policy, Incomplete Information and Inequality by Margarita Rubio,Ms.Filiz D Unsal Pdf

In this paper, we use a DSGE model to study the passive and time-varying implementation of macroprudential policy when policymakers have noisy and lagged data, as commonly observed in lowincome and developing countries (LIDCs). The model features an economy with two agents; households and entrepreneurs. Entrepreneurs are the borrowers in this economy and need capital as collateral to obtain loans. The macroprudential regulator uses the collateral requirement as the policy instrument. In this set-up, we compare policy performances of permanently increasing the collateral requirement (passive policy) versus a time-varying (active) policy which responds to credit developments. Results show that with perfect and timely information, an active approach is welfare superior, since it is more effective in providing financial stability with no long-run output cost. If the policymaker is not able to observe the economic conditions perfectly or observe with a lag, a cautious (less aggressive) policy or even a passive approach may be preferred. However, the latter comes at the expense of increasing inequality and a long-run output cost. The results therefore point to the need for a more careful consideration toward the passive policy, which is usually advocated for LIDCs.

Growth, Inequality, and Poverty

Director Anthony Shorrocks,Anthony Shorrocks,Rolph van der Hoeven,Manager of the Technical Secretariat Rolph Van Der Hoeven
Growth Inequality and Poverty Book PDF

Author : Director Anthony Shorrocks,Anthony Shorrocks,Rolph van der Hoeven,Manager of the Technical Secretariat Rolph Van Der Hoeven
Publisher : Oxford University Press on Demand
Page : 300 pages
File Size : 43,8 Mb
Release : 2004-03-04
Category : Business & Economics
ISBN : 9780199268658

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Growth, Inequality, and Poverty by Director Anthony Shorrocks,Anthony Shorrocks,Rolph van der Hoeven,Manager of the Technical Secretariat Rolph Van Der Hoeven Pdf

This is a collection of papers examining the pressing issue of increasing inequality in the distribution of income in developing countries. While economic growth is a prerequisite for a sustained reduction in poverty, policies aimed at raising growth rates are often associated with a range of adverse short term effects, including rising unemployment, greater economic insecurity, environmental degradation and the weakening of traditional social safety nets. Pro-poor growth strategiesattempt to address these short term problems. But the ideal mix of policies, and their impact on the prospects for poverty reduction in the longer run, remain controversial topics. Growth, Inequality and Poverty comprises many of the most important contributions to the current debate.

Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality

Ms.Era Dabla-Norris,Yan Ji,Robert Townsend,Ms.Filiz Unsal
Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality Book PDF

Author : Ms.Era Dabla-Norris,Yan Ji,Robert Townsend,Ms.Filiz Unsal
Publisher : International Monetary Fund
Page : 49 pages
File Size : 53,5 Mb
Release : 2015-01-27
Category : Business & Economics
ISBN : 9781498381598

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Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality by Ms.Era Dabla-Norris,Yan Ji,Robert Townsend,Ms.Filiz Unsal Pdf

We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of these constraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financial inclusion: access (determined by the size of participation costs), depth (determined by the size of collateral constraints resulting from limited commitment), and intermediation efficiency (determined by the size of interest rate spreads and default possibilities due to costly monitoring). We take the model to a firm-level data from the World Bank Enterprise Survey for six countries at varying degrees of economic development—three low-income countries (Uganda, Kenya, Mozambique), and three emerging market countries (Malaysia, the Philippines, and Egypt). The results suggest that alleviating different financial frictions have a differential impact across countries, with country-specific characteristics playing a central role in determining the linkages and tradeoffs between inclusion, GDP, inequality, and the distribution of gains and losses.

The Impact of Macroeconomic Policies on Poverty and Income Distribution

François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva
The Impact of Macroeconomic Policies on Poverty and Income Distribution Book PDF

Author : François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva
Publisher : World Bank Publications
Page : 362 pages
File Size : 43,5 Mb
Release : 2008-01-01
Category : Political Science
ISBN : 9780821357798

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The Impact of Macroeconomic Policies on Poverty and Income Distribution by François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva Pdf

A companion to the bestseller, The Impact of Economic Policies on Poverty and Income Distribution, this title deals with theoretical challenges and cutting-edge macro-micro linkage models. The authors compare the predictive and analytical power of various macro-micro linkage techniques using the traditional RHG approach as a benchmark to evaluate standard policies, such as, a typical stabilization package and a typical structural reform policy.

Towards Human Development

Giovanni Andrea Cornia,Frances Stewart
Towards Human Development Book PDF

Author : Giovanni Andrea Cornia,Frances Stewart
Publisher : OUP Oxford
Page : 328 pages
File Size : 45,6 Mb
Release : 2014-04-17
Category : Business & Economics
ISBN : 9780191016288

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Towards Human Development by Giovanni Andrea Cornia,Frances Stewart Pdf

Human Development is widely recognised as the overriding goal of development, yet its realization is challenged by growing inequality, macro-economic fluctuations, and recurrent financial crises. This edited collection reflects on the work of Richard Jolly and includes contributions from leading scholars of development, all of whom have worked with Richard Jolly at varying points in his distinguished career. The volume advances thinking in the area of Human Development by discussing the evolution of its conceptualization and the policy implications, and the achievements in related key areas such as education, social protection, and employment. It juxtaposes these theoretical and (at times) real life improvements with disturbing developments in terms of growing inequality and macro-economic instability. It documents the growing income inequality which has characterized both developing and developed countries. It shows that there has been a decline in some countries and identifies the policies adopted in these exceptional cases. It also shows also where and how public expenditure on Human Development in developing countries has been affected by the 2008 financial crisis and presents a new framework for a pro-growth pro-Human Development macro-economics, including suggestions for the countercyclical regulation of financial flows. The book also argues that a series of disruptive factors are nudging the innovation trajectory in new potentially pro-poor and pro-Human Development directions, especially if policies speed-up the diffusion of new efficient appropriate technologies in low and middle income economies.

Macroeconomic Research in Low-income Countries

Hites Ahir,Hendre Garbers,Mattia Coppo,Mr.Giovanni Melina,Mr.Futoshi Narita,Ms.Filiz D Unsal,Vivian Malta,Xin Tang,Daniel Gurara,Luis-Felipe Zanna,Linda G. Venable,Mr.Kangni R Kpodar,Mr.Chris Papageorgiou
Macroeconomic Research in Low income Countries Book PDF

Author : Hites Ahir,Hendre Garbers,Mattia Coppo,Mr.Giovanni Melina,Mr.Futoshi Narita,Ms.Filiz D Unsal,Vivian Malta,Xin Tang,Daniel Gurara,Luis-Felipe Zanna,Linda G. Venable,Mr.Kangni R Kpodar,Mr.Chris Papageorgiou
Publisher : International Monetary Fund
Page : 76 pages
File Size : 50,8 Mb
Release : 2021-03-24
Category : Business & Economics
ISBN : 9781513566603

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Macroeconomic Research in Low-income Countries by Hites Ahir,Hendre Garbers,Mattia Coppo,Mr.Giovanni Melina,Mr.Futoshi Narita,Ms.Filiz D Unsal,Vivian Malta,Xin Tang,Daniel Gurara,Luis-Felipe Zanna,Linda G. Venable,Mr.Kangni R Kpodar,Mr.Chris Papageorgiou Pdf

Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

Income Distribution and High-quality Growth

Vito Tanzi,Ke-young Chu
Income Distribution and High quality Growth Book PDF

Author : Vito Tanzi,Ke-young Chu
Publisher : MIT Press
Page : 448 pages
File Size : 53,9 Mb
Release : 1998
Category : Business & Economics
ISBN : 0262201097

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Income Distribution and High-quality Growth by Vito Tanzi,Ke-young Chu Pdf

The contributors argue that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth. The contrast is vivid. While the majority of people in the industrial world and some in the developing world enjoy unprecedented affluence, a far greater number of people in the low-income countries live in abject poverty. Although several developing countries are achieving rapid economic growth and poverty reduction, most formerly centrally planned countries are struggling to implement market-oriented reforms in the midst of economic deterioration and rising poverty. The paramount importance of reducing poverty worldwide is forcing economists and policymakers to look at how income distribution and economic growth interact. The essays in this volume grew out of a 1995 conference sponsored by the International Monetary Fund. The contributors are scholars and policymakers from academic institutions, governments, and international organizations. The questions discussed include: How does income distribution interact with economic growth in the short run and the long run? To what extent can government use transfer programs to increase the incomes of the poor? How can government use social programs to help the poor increase their income-earning capacity? Does distributional inequality create an obstacle to long-term poverty reduction? Alternatively, is distributional inequality a necessary means of achieving economic growth? Generally, the contributors agree that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth.

Inequality, Growth, and Poverty in an Era of Liberalization and Globalization

Giovanni Andrea Cornia
Inequality Growth and Poverty in an Era of Liberalization and Globalization Book PDF

Author : Giovanni Andrea Cornia
Publisher : Oxford University Press on Demand
Page : 461 pages
File Size : 42,7 Mb
Release : 2004-03-18
Category : Business & Economics
ISBN : 9780199271412

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Inequality, Growth, and Poverty in an Era of Liberalization and Globalization by Giovanni Andrea Cornia Pdf

Within-country income inequality has risen since the early 1980s in most of the OECD, all transitional, and many developing countries. More recently, inequality has risen also in India and nations affected by the Asian crisis. Altogether, over the last twenty years, inequality worsened in 70 per cent of the 73 countries analysed in this volume, with the Gini index rising by over five points in half of them. In several cases, the Gini index follows a U-shaped pattern, with theturn-around point located between the late 1970s and early 1990s. Where the shift towards liberalization and globalization was concluded, the right arm of the U stabilized at the 'steady state level of inequality' typical of the new policy regime, as observed in the UK after 1990.Mainstream theory focusing on rises in wage differentials by skill caused by either North-South trade, migration, or technological change poorly explains the recent rise in income inequality. Likewise, while the traditional causes of income polarization-high land concentration, unequal access to education, the urban bias, the 'curse of natural resources'-still account for much of cross-country variation in income inequality, they cannot explain its recent rise.This volume suggests that the recent rise in income inequality was caused to a considerable extent by a policy-driven worsening in factorial income distribution, wage spread and spatial inequality. In this regard, the volume discusses the distributive impact of reforms in trade and financial liberalization, taxation, public expenditure, safety nets, and labour markets. The volume thus represents one of the first attempts to analyse systematically the relation between policy changes inspired byliberalization and globalization and income inequality. It suggests that capital account liberalization appears to have had-on average-the strongest disequalizing effect, followed by domestic financial liberalization, labour market deregulation, and tax reform. Trade liberalization had uncleareffects, while public expenditure reform often had positive effects.

Income Inequality and Fiscal Policy (2nd Edition)

Ms. Francesca Bastagli,David Coady,Mr. Sanjeev Gupta
Income Inequality and Fiscal Policy 2nd Edition Book PDF

Author : Ms. Francesca Bastagli,David Coady,Mr. Sanjeev Gupta
Publisher : International Monetary Fund
Page : 37 pages
File Size : 42,7 Mb
Release : 2012-10-09
Category : Business & Economics
ISBN : 9781475512045

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Income Inequality and Fiscal Policy (2nd Edition) by Ms. Francesca Bastagli,David Coady,Mr. Sanjeev Gupta Pdf

This note will describe recent trends in income inequality in both advanced and developing economies and how tax and expenditure policies have impacted on these trends. It will discuss how tax and expenditure policies should be designed to bring about a more equitable distribution of income, as well as to protect the most vulnerable populations during periods of fiscal consolidation.

Sustaining Long-Run Growth and Macroeconomic Stability in Low Income Countries - The Role of Structural Transformation and Diversification - Background Notes

International Monetary Fund
Sustaining Long Run Growth and Macroeconomic Stability in Low Income Countries The Role of Structural Transformation and Diversification Background Notes Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 107 pages
File Size : 48,6 Mb
Release : 2014-07-03
Category : Business & Economics
ISBN : 9781498343664

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Sustaining Long-Run Growth and Macroeconomic Stability in Low Income Countries - The Role of Structural Transformation and Diversification - Background Notes by International Monetary Fund Pdf

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IMF-Supported Programs in Low Income Countries

Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
IMF Supported Programs in Low Income Countries Book PDF

Author : Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
Publisher : International Monetary Fund
Page : 64 pages
File Size : 48,5 Mb
Release : 2014-01-15
Category : Business & Economics
ISBN : 9781484359433

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IMF-Supported Programs in Low Income Countries by Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani Pdf

This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and disentangle the different effects of IMF longer-term engagement and short-term financing using a propensity score matching approach to control for selection bias. Our results indicate that longer-term IMF support (at least five years of program engagement per decade) helped LICs sustain economic growth and boost resilience by building fiscal buffers. Interestingly, the size of IMF financing has no significant impact on economic growth, possibly pointing to the prominent role of IMF policy advice and institutional capacity building in the context of longer-term engagement. We also present evidence that the short-term IMF engagement through augmentations of existing programs or short-term and emergency facilities is positively associated with a wide range of macroeconomic outcomes. Notably, the IMF financial support has the greatest impact on short-term growth when LICs are faced with substantial macroeconomic imbalances or exogenous shocks.

Redistribution, Inequality, and Growth

Mr.Jonathan David Ostry,Mr.Andrew Berg,Mr.Charalambos G Tsangarides
Redistribution Inequality and Growth Book PDF

Author : Mr.Jonathan David Ostry,Mr.Andrew Berg,Mr.Charalambos G Tsangarides
Publisher : International Monetary Fund
Page : 30 pages
File Size : 55,9 Mb
Release : 2014-02-17
Category : Business & Economics
ISBN : 9781484352076

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Redistribution, Inequality, and Growth by Mr.Jonathan David Ostry,Mr.Andrew Berg,Mr.Charalambos G Tsangarides Pdf

The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.

Inclusive States

Anis A. Dani,Arjan de Haan
Inclusive States Book PDF

Author : Anis A. Dani,Arjan de Haan
Publisher : World Bank Publications
Page : 468 pages
File Size : 44,7 Mb
Release : 2008-04-29
Category : Business & Economics
ISBN : 0821370006

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Inclusive States by Anis A. Dani,Arjan de Haan Pdf

The heterogeneity of social structures and cultural identities in many developing countries, together with traditional hierarchies, rivalries, and deep-seated biases, has perpetuated inequities. Inclusive States: Social Policy and Structural Inequalities examines the role of the state and society in addressing structural inequalities and identifies a set of policy recommendations to redress them. This book defines structural inequality as a condition arising from unequal status attributed to a category of people in relation to others, a relationship perpetuated and reinforced by unequal relations in roles, functions, decision rights, and opportunities. Inclusive states are those that direct policies to address the needs of all, that respect the rights of citizens to exercise voice and influence on which services are provided and how they are delivered, and that have an interest in strengthening the social contract with their citizens. A central focus of policy remains a concern for equity, both to level the playing field to encourage social mobility and to ensure equity in the distributional effects of policy reforms and development interventions. This book highlights two key challenges for social policy. First, policy design needs to take into account the weaknesses of basic state functions in many developing countries, since these have important ramifications for social policy outcomes. Second, in most developing countries social structures marked by historically rooted structural inequalities pose significant challenges to the provision of services and require a long-term commitment to address underlying questions and problems. This book describes some of the challenges found in different contexts and some of the ways in which these challenges can be and are being addressed. This book is part of a new series, New Frontiers in Social Policy, which examines issues and approaches to extend the boundaries of social policy beyond conventional social services toward policies and institutions that improve equality of opportunity and social justice in developing countries. Other forthcoming titles in the series include Assets, Livelihoods, and Social Policy, and Institutional Pathways to Equity: Addressing Inequality Traps.