A Policy Matrix for Inclusive Growth

Stefanie Stantcheva and Dani Rodrik

No 16078, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: One of the biggest challenges that countries face today is the very unequal distributions of opportunities, resources, income and wealth across people. Inclusive prosperity – whereby many people from different backgrounds can benefit from economic growth, new technologies, and the fruits of globalization – remains elusive. To address these issues, societies face choices among many different policies and institutional arrangements to try to ensure a proper supply of productive jobs and activities, as well as access to education, financial means, and other endowments that prepare individuals for their participation in the economy. In this paper we offer a simple, organizing framework to think about policies for inclusive prosperity. We provide a comprehensive taxonomy of policies, distinguishing among the types of inequality they address and the stages of the economy where the intervention takes place. The taxonomy clarifies the differences among contending approaches to equity and inclusion and can help analysts assess the impacts and implications of different policies and identify potential gaps.

Keywords: Policy taxonomy; Fiscal policy; Inequality; Insecurity (search for similar items in EconPapers)
JEL-codes: A11 E61 H2 (search for similar items in EconPapers)
Date: 2021-04
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