The Political Economy of Inclusive Growth: A Review

Simon Johnson and Priscilla Muthoora

No 2021/082, IMF Working Papers from International Monetary Fund

Abstract: In this paper, we review the role of the political economy in inclusive growth. We find that political economy forces on the demand and supply side have weakened redistribution over time and contributed to a new wave of populism. We document growing support for a rethink of the social contract to make growth more inclusive and discuss some of its broad elements.

Keywords: Political Economy; Inequality; Redistribution; Growth; Labor program; income skew; skew of voter turnout; opposition to Redistribution; public social; Income inequality; Income; Inclusive growth; Fiscal redistribution; Global; Europe; Social protection spending; COVID-19; government policy; populist government; government commitment; inhibiting government responsiveness; government legitimacy (search for similar items in EconPapers)
Pages: 40
Date: 2021-03-19
New Economics Papers: this item is included in nep-cwa, nep-mac and nep-pol
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