Macroeconomics, Human Development, and Distribution

Stephanie Seguino

Journal of Human Development and Capabilities, 2012, vol. 13, issue 1, 59-81

Abstract: Policies designed to pursue an equity-led macroeconomic growth strategy must take into account feedback effects, with distribution itself influencing macroeconomic outcomes. Under the right conditions, a more equitable distribution of income and opportunities in the form of human development can be a stimulus to growth, funding further investments in human development. Developing the policies to create those conditions is the central challenge for any human development-centered macroeconomic framework. I review here some macro-level policies that achieve this goal, identifying a key role for fiscal policy to raise productivity and for monetary policy to expand employment, a central goal of any macro-inclusive strategy.

Date: 2012
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DOI: 10.1080/19452829.2011.637376

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