Causes and Consequences of Income Inequality: A Global Perspective
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...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2015
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| Series: | IMF Staff Discussion Notes: Staff Discussion Notes No. 15 / 13
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| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | 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 |
| Physical Description: | 1 Online-Ressource (39 p) |
| ISBN: | 1513555189 9781513555188 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:37Z |
| indexdate | 2024-07-10T09:35:47Z |
| institution | BVB |
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| physical | 1 Online-Ressource (39 p) |
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| record_format | marc |
| series2 | IMF Staff Discussion Notes: Staff Discussion Notes No. 15 / 13 |
| spelling | Dabla-Norris, Era Verfasser aut Causes and Consequences of Income Inequality A Global Perspective Dabla-Norris, Era Washington, D.C International Monetary Fund 2015 1 Online-Ressource (39 p) txt rdacontent c rdamedia cr rdacarrier IMF Staff Discussion Notes: Staff Discussion Notes No. 15 / 13 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 Online-Ausg Kochhar, Kalpana Sonstige oth Ricka, Frantisek Sonstige oth Suphaphiphat, Nujin Sonstige oth Tsounta, Evridiki Sonstige oth http://www.elibrary.imf.org/view/IMF006/22594-9781513555188/22594-9781513555188/22594-9781513555188.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Dabla-Norris, Era Causes and Consequences of Income Inequality A Global Perspective |
| title | Causes and Consequences of Income Inequality A Global Perspective |
| title_auth | Causes and Consequences of Income Inequality A Global Perspective |
| title_exact_search | Causes and Consequences of Income Inequality A Global Perspective |
| title_exact_search_txtP | Causes and Consequences of Income Inequality A Global Perspective |
| title_full | Causes and Consequences of Income Inequality A Global Perspective Dabla-Norris, Era |
| title_fullStr | Causes and Consequences of Income Inequality A Global Perspective Dabla-Norris, Era |
| title_full_unstemmed | Causes and Consequences of Income Inequality A Global Perspective Dabla-Norris, Era |
| title_short | Causes and Consequences of Income Inequality |
| title_sort | causes and consequences of income inequality a global perspective |
| title_sub | A Global Perspective |
| url | http://www.elibrary.imf.org/view/IMF006/22594-9781513555188/22594-9781513555188/22594-9781513555188.xml |
| work_keys_str_mv | AT dablanorrisera causesandconsequencesofincomeinequalityaglobalperspective AT kochharkalpana causesandconsequencesofincomeinequalityaglobalperspective AT rickafrantisek causesandconsequencesofincomeinequalityaglobalperspective AT suphaphiphatnujin causesandconsequencesofincomeinequalityaglobalperspective AT tsountaevridiki causesandconsequencesofincomeinequalityaglobalperspective |