Another legacy of the COVID-19 pandemic: Income divergence

Amat Adarov, Justin-Damien Guenette and Franziska Ohnsorge

Journal of Policy Modeling, 2022, vol. 44, issue 4, 842-854

Abstract: The uneven economic recovery from the pandemic-induced global recession of 2020 is expected to disrupt a multi-decade trend of per capita income convergence between advanced and emerging market and developing economies (EMDEs). This stands in contrast to the global recession following the global financial crisis. Should downside risks to the global recovery, in particular financial market stress, materialize, they are likely to set back growth in EMDEs more than in advanced economies in part because of the more limited policy space remaining in EMDEs, and would further widen per capita income divergence.

Keywords: Income convergence; Pandemic effects; Between-country inequality (search for similar items in EconPapers)
JEL-codes: I14 O15 O47 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:44:y:2022:i:4:p:842-854

DOI: 10.1016/j.jpolmod.2022.09.013

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