Fiscal Policy and Inclusive Growth in Advanced Countries: Their Experience and Implications for Asia

Almas Heshmati (), Jungsuk Kim () and Donghyun Park
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Jungsuk Kim: Sogang University

No 422, ADB Economics Working Paper Series from Asian Development Bank

Abstract: Advanced economies have a significantly longer history of using fiscal policy to tackle inequality and promote inclusive growth than those in developing Asia. Therefore, as developing Asia explores the more active use of fiscal policy for inclusive purposes, it can learn from the experiences of advanced countries. Those experiences clearly suggest that fiscal policy can have a significant effect on inequality which provides some cause for optimism about its equity-promoting potential. Nevertheless, that optimism should be tempered by the different circumstances of advanced versus developing economies along with the need for developing Asia to maintain fiscal sustainability and economic growth.

Keywords: fiscal policy; inequality; inclusive growth; advanced countries; developing Asia (search for similar items in EconPapers)
JEL-codes: D31 H20 H50 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2014-12-01
New Economics Papers: this item is included in nep-pbe
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Citations: View citations in EconPapers (4)

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