Sharing the Growth Dividend: Analysis of Inequality in Asia
This paper focusses on income inequality in Asia, its drivers and policies to combat it. It finds that income inequality has risen in most of Asia, in contrast to many other regions. While in the past, rapid growth in Asia has come with equitable distribution of the gains, more recently fastgrowing...
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| Format: | Article |
| Language: | English |
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University of Warsaw
2019-08-01
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| Series: | Journal of Banking and Financial Economics |
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| Online Access: | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1040&context=jbfe |
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| author | Sonali Jain-Chandra Tidiane Kinda Kalpana Kochhar Shi Piao Johanna Schauer |
| author_facet | Sonali Jain-Chandra Tidiane Kinda Kalpana Kochhar Shi Piao Johanna Schauer |
| author_sort | Sonali Jain-Chandra |
| collection | DOAJ |
| description | This paper focusses on income inequality in Asia, its drivers and policies to combat it. It finds that income inequality has risen in most of Asia, in contrast to many other regions. While in the past, rapid growth in Asia has come with equitable distribution of the gains, more recently fastgrowing Asian economies have been unable to replicate the “growth with equity” miracle. There is a growing consensus that high levels of inequality can hamper the pace and sustainability of growth. The paper argues that policies could have a substantial effect on reversing the trend of rising inequality. It is imperative to address inequality of opportunities, in particular to broaden access to education, health, and financial services. Also, fiscal policy could combat rising inequality, including by expanding and broadening the coverage of social spending, improving tax progressivity, and boosting compliance. Further efforts to promote financial inclusion, while maintaining financial stability, can help. |
| format | Article |
| id | doaj-art-4afd23d2cb784ddd98d01b7d5a067c2f |
| institution | Kabale University |
| issn | 2353-6845 |
| language | English |
| publishDate | 2019-08-01 |
| publisher | University of Warsaw |
| record_format | Article |
| series | Journal of Banking and Financial Economics |
| spelling | doaj-art-4afd23d2cb784ddd98d01b7d5a067c2f2025-01-02T23:16:33ZengUniversity of WarsawJournal of Banking and Financial Economics2353-68452019-08-012019252810.7172/2353-6845.jbfe.2019.2.1Sharing the Growth Dividend: Analysis of Inequality in AsiaSonali Jain-Chandra0https://orcid.org/0000-0002-0860-2941 Tidiane Kinda1https://orcid.org/0000-0002-4367-8175 Kalpana Kochhar2https://orcid.org/0000-0002-5267-3317 Shi Piao3https://orcid.org/0000-0003-2649-9658Johanna Schauer4https://orcid.org/0000-0002-0714-9903 IMF, USA IMF, USA IMF, USA Ant Financial Services Group, China IMF, USAThis paper focusses on income inequality in Asia, its drivers and policies to combat it. It finds that income inequality has risen in most of Asia, in contrast to many other regions. While in the past, rapid growth in Asia has come with equitable distribution of the gains, more recently fastgrowing Asian economies have been unable to replicate the “growth with equity” miracle. There is a growing consensus that high levels of inequality can hamper the pace and sustainability of growth. The paper argues that policies could have a substantial effect on reversing the trend of rising inequality. It is imperative to address inequality of opportunities, in particular to broaden access to education, health, and financial services. Also, fiscal policy could combat rising inequality, including by expanding and broadening the coverage of social spending, improving tax progressivity, and boosting compliance. Further efforts to promote financial inclusion, while maintaining financial stability, can help.https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1040&context=jbfeinequalitygini coefficientasia |
| spellingShingle | Sonali Jain-Chandra Tidiane Kinda Kalpana Kochhar Shi Piao Johanna Schauer Sharing the Growth Dividend: Analysis of Inequality in Asia Journal of Banking and Financial Economics inequality gini coefficient asia |
| title | Sharing the Growth Dividend: Analysis of Inequality in Asia |
| title_full | Sharing the Growth Dividend: Analysis of Inequality in Asia |
| title_fullStr | Sharing the Growth Dividend: Analysis of Inequality in Asia |
| title_full_unstemmed | Sharing the Growth Dividend: Analysis of Inequality in Asia |
| title_short | Sharing the Growth Dividend: Analysis of Inequality in Asia |
| title_sort | sharing the growth dividend analysis of inequality in asia |
| topic | inequality gini coefficient asia |
| url | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1040&context=jbfe |
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