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- Title
A Survey of Inclusive Growth Policy.
- Authors
Heshmati, Almas; Kim, Jungsuk; Wood, Jacob
- Abstract
Background: Since the latter part of the 20th Century, countries have been particularly challenged by the trade-off that exists between delivering generous welfare provisions and strong economic growth. Such dynamics have stimulated a need to better understand the causes of income inequality so as to better formulate policies that foster inclusive growth and reduce growing concerns surrounding income inequality. Method: Given its ability to succinctly summarize, analyze, and synthesize an extant body of literature from a certain genre of scholastic endeavor, this study utilizes a literature review as its proposed methodological approach. Results: From our assessment of the literature, we identified four key areas that contribute significantly to income inequality in both advanced and developing economies, these include: (i) pursuing skill-biased technological change; (ii) enhancing education systems; (iii) consolidation of globalization; and (iv) reform of the labor market and its relevant institutions. Conclusion: There is no silver bullet to achieving inclusive growth. Any policy manifesto must seek to offer a coordinated policy platform that looks to deal directly with the causes of inequality. In order to do so, consideration should be given to a range of policy areas including fiscal, education, trade liberalization, and labor market reforms.
- Subjects
ASIA; INCOME inequality; FREE trade; LABOR market; TECHNOLOGICAL innovations; ECONOMIC development
- Publication
Economies, 2019, Vol 7, Issue 3, p65
- ISSN
2227-7099
- Publication type
Article
- DOI
10.3390/economies7030065