Policy approaches to reduce inequalities while boosting productivity growth

Emilia Soldani, Orsetta Causa, Maxime Nguyen and Tomasz Kozluk

No 1819, OECD Economics Department Working Papers from OECD Publishing

Abstract: Over the past decades, productivity growth and technology diffusion have slowed down, and business dynamism has declined in many advanced and emerging economies. Meanwhile, inequalities in economic outcomes, such as in income and wealth, and in opportunities, such as access to quality education and training, are pervasive. By hampering social mobility and the efficient allocation of talents, inequality of opportunities may trigger slower growth and even higher inequalities in outcomes. Policies to boost growth and make it more inclusive should focus on (i) ensuring broad access to quality education, from childhood onwards, and upskilling throughout working lives; (ii) addressing labour market insecurity and informality and improving job quality; (iii) curbing market power in products and labour markets to boost business dynamism; (iv) enhancing the efficiency and progressivity of taxes and transfer systems; and (v) fostering international cooperation, for instance in trade and taxation.

Keywords: economic growth; inequality; productivity (search for similar items in EconPapers)
JEL-codes: H10 H2 I28 I38 J38 J48 K2 L1 L5 O38 O4 (search for similar items in EconPapers)
Date: 2024-09-05
New Economics Papers: this item is included in nep-eff, nep-lma and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:1819-en

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