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Structural Reforms Growth And Inequality
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Book Synopsis Structural Reforms, Growth and Inequality by : Nauro F. Campos
Download or read book Structural Reforms, Growth and Inequality written by Nauro F. Campos and published by . This book was released on 2017 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter provides a critical overview of the state of the art in the economics literature on structural reforms. It takes stock of theoretical developments, measurement efforts and of the econometric evidence. We start with a simple theoretical framework for the relationship between structural reforms, economic growth and income inequality. We argue that whether structural reforms have a positive or negative impact depends on various factors. The type of reform, timing, sequence and political constraints play crucial roles in determining the effectiveness of reforms on economic growth and income inequality. We conclude by proposing a 7-point agenda for future research.
Author :Mr.Santiago Acosta Ormaechea Publisher :International Monetary Fund ISBN 13 :1484303687 Total Pages :46 pages Book Rating :4.4/5 (843 download)
Book Synopsis Fiscal Reforms, Long-term Growth and Income Inequality by : Mr.Santiago Acosta Ormaechea
Download or read book Fiscal Reforms, Long-term Growth and Income Inequality written by Mr.Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2017-06-29 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evaluation of growth-friendly fiscal reforms during 1975-2010. We find that in reform countries the annual growth rate of real GDP was on average about 1 percentage point above their synthetic units 10 years after each respective reform. Moreover, countries which were initially less developed seemed to experience a larger growth impact after their reforms. Results are broadly robust to controlling for structural reforms on business regulation, financial market, labor market, and legal and product markets, which may also affect growth. Our findings also suggest that inequality is not affected by the growth-friendly fiscal reforms analyzed in this paper.
Book Synopsis Growth-Equity Trade-offs in Structural Reforms by : Mr.Jonathan David Ostry
Download or read book Growth-Equity Trade-offs in Structural Reforms written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2018-01-05 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross-country data covering advanced, emerging-market, and low-income countries. Our main finding is that there is indeed evidence of a growth-equity tradeoff for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as do some measures of liberalization of current account transactions. Reforms aimed at strengthening the impartiality of and adherence to the legal system seem to entail no growth-equity tradeoff—such reforms are good for growth and do not worsen inequality. The results for our index of network reforms as well as our measure of the decentralization of collective labor bargaining are the weakest and least robust, potentially due to data limitations. We also ask: If some structural reforms worsen inequality, to what degree does this offset the growth gains from the reforms themselves? While higher inequality does dampen the growth benefits, the net effect on growth remains positive for most reform indicators.
Book Synopsis The Political Economy of Structural Reforms in Europe by : Nauro F. Campos
Download or read book The Political Economy of Structural Reforms in Europe written by Nauro F. Campos and published by Oxford University Press. This book was released on 2018-07-03 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reforms in labour and product markets play a central role in government policies. The Political Economy of Structural Reforms in Europe takes stock of current frontier work. It brings together leading contributions from academia, the central banks in Europe, and the OECD to argue that structural reforms can make a fundamental contribution to improve economic performance across Europe. The Political Economy of Structural Reforms in Europe brings together theoretical and empirical studies that address the potential role of structural reforms in restoring macroeconomic stability, resuming economic growth, addressing income inequality, and grappling secular stagnation. It throws new light on the determinants and effects of structural reforms and on how these shape the European integration experience.
Book Synopsis Economic Reforms, Growth and Inequality in Latin America by : Gustavo Indart
Download or read book Economic Reforms, Growth and Inequality in Latin America written by Gustavo Indart and published by Routledge. This book was released on 2019-06-04 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 2004. Growth, income distribution, and labour markets are issues of pivotal importance in the Latin American context. Examining unique theoretical issues and the empirical evidence, this book provides a critical analysis of the key elements of income distribution determinants, labour market functions, trade policies, and their interrelations. As the advance of globalization becomes seemingly unstoppable, this book provides an important reappraisal of the impact of this new phenomenon, and in particular, the pernicious impact it may have on income growth and distribution. The key objective of the volume is to integrate more fully the analysis of trade and labour market economists, in order to better understand the labour market and income distribution implications of globalization and international integration. Forty years after the early calls to appropriately investigate the micro foundations of macroeconomics, the separation of the two at the policy level is more damaging than ever before - particularly for developing regions; this volume therefore makes an important contribution at the theoretical and policy levels by bringing together macroeconomic and microeconomic analyses.
Book Synopsis Confronting Inequality by : Jonathan D. Ostry
Download or read book Confronting Inequality written by Jonathan D. Ostry and published by Columbia University Press. This book was released on 2019-01-08 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Book Synopsis Poverty and Inequality in the Era of Structural Reforms: The Case of Bolivia by : Julius Spatz
Download or read book Poverty and Inequality in the Era of Structural Reforms: The Case of Bolivia written by Julius Spatz and published by Springer Science & Business Media. This book was released on 2007-08-03 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fueled by the ongoing debate about the distributive effects of the Washington Consensus, the dynamics of poverty and inequality have returned to the center of attention of academic scholars, policymakers, and the public at large. The main obstacles to analyzing this issue are incomplete income and consumption data in developing countries. Hence, the book presents a new dynamic cross-survey microsimulation methodology and applies it to generate the database for a detailed case study on Bolivia during the era of structural reforms. Building upon this database, the dynamics of different dimensions of poverty and inequality in 1989 - 2002 are analyzed with various microeconomic tools. The empirical results suggest that in the case of Bolivia the impact of the Washington Consensus has neither lived up to the expectations of its proponents nor to the fears of its critics.
Book Synopsis The Politics of Structural Reforms by : Hideko Magara
Download or read book The Politics of Structural Reforms written by Hideko Magara and published by Edward Elgar Publishing. This book was released on 2013-10-31 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,
Book Synopsis The Distributional Impact of Structural Reforms by :
Download or read book The Distributional Impact of Structural Reforms written by and published by . This book was released on 2016 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Policy Reforms 2012 Going for Growth by : OECD
Download or read book Economic Policy Reforms 2012 Going for Growth written by OECD and published by OECD Publishing. This book was released on 2012-02-24 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Going for Growth is the OECD’s annual report highlighting developments in structural policies in OECD countries. It identifies structural reform priorities to boost real income for each OECD country and key emerging economies.
Book Synopsis Macro-Structural Policies and Income Inequality in Low-Income Developing Countries by : Ms.Stefania Fabrizio
Download or read book Macro-Structural Policies and Income Inequality in Low-Income Developing Countries written by Ms.Stefania Fabrizio and published by International Monetary Fund. This book was released on 2017-01-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inequality and Structural Reforms by : Caterina Astarita
Download or read book Inequality and Structural Reforms written by Caterina Astarita and published by . This book was released on 2017 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Income inequality became more and more prominent in the academic and policy debate in recent years and particularly since the economic downturn. Inequality, indeed, may have long-term effects on (potential) growth and macroeconomic stability, reinforcing existing inequalities and reducing opportunities, skills development and social and occupational mobility. Structural reforms, id est labour and product market reforms and tax-benefit systems reforms, are one of the main tools available for public interventions aimed at boosting growth while not being detrimental to equality. In this context, DG ECFIN of the European Commission organised two workshops held on the 16th of May and the 19th of June 2017 aimed at enriching the existing knowledge of the relationship between structural reforms and inequality and taking place at a time where Europe discusses the social dimension, notably the European Pillar of Social Rights as proposed by the Commission and proclaimed at the Social Summit in Gothenburg. The first workshop focused on the methodological issues whilst the second one focused on policy evidence of the impact of structural reforms on inequality. These proceedings take stock of the discussions held in the workshops, in order to contribute to the growing debate on how to better take into account distributional effects when formulating policy advice.
Book Synopsis Redistribution, Inequality, and Growth by : Mr.Jonathan David Ostry
Download or read book Redistribution, Inequality, and Growth written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2014-02-17 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inequality, Growth, and Poverty in an Era of Liberalization and Globalization by : Giovanni Andrea Cornia
Download or read book Inequality, Growth, and Poverty in an Era of Liberalization and Globalization written by Giovanni Andrea Cornia and published by Oxford University Press, USA. This book was released on 2004-03-18 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Links Between Growth, Inequality, and Poverty: A Survey by : Ms. Valerie Cerra
Download or read book Links Between Growth, Inequality, and Poverty: A Survey written by Ms. Valerie Cerra and published by International Monetary Fund. This book was released on 2021-03-12 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.
Book Synopsis Economic Policy Reforms 2007 Going for Growth by : OECD
Download or read book Economic Policy Reforms 2007 Going for Growth written by OECD and published by OECD Publishing. This book was released on 2007-02-13 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a broad set of indicators of structural policies and performance, Going for Growth 2007 takes stock of the recent progress made in implementing policy reforms and identifies, for each OECD country, five policy priorities to lift growth.
