Sharing the Growth Dividend: Analysis of Inequality in Asia

Sonali Jain-Chandra (), Tidiane Kinda, Kalpana Kochhar (), Shi Piao () and Johanna Schauer ()
Additional contact information
Sonali Jain-Chandra: IMF, USA
Kalpana Kochhar: IMF, USA
Shi Piao: Ant Financial Services Group, China
Johanna Schauer: IMF, USA

Journal of Banking and Financial Economics, 2019, vol. 2, issue 12, 5-28

Abstract: 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.

Keywords: Inequality; Gini coefficient; Asia (search for similar items in EconPapers)
JEL-codes: D31 D63 O15 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://jbfe.wz.uw.edu.pl/resources/html/article/details?id=204892 (text/html)

Related works:
Working Paper: Sharing the Growth Dividend: Analysis of Inequality in Asia (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sgm:jbfeuw:v:2:y:2019:i:12:p:5-28

Access Statistics for this article

More articles in Journal of Banking and Financial Economics from University of Warsaw, Faculty of Management Contact information at EDIRC.
Bibliographic data for series maintained by ().