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Sharing the Growth Dividend: Analysis of Inequality in Asia

Author

Listed:
  • Ms. Sonali Jain-Chandra
  • Mr. Tidiane Kinda
  • Ms. Kalpana Kochhar
  • Shi Piao
  • Johanna Schauer
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 regions. While in the past, rapid growth in Asia has come with equitable distribution of the gains, more recently fast-growing 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.

Suggested Citation

  • Ms. Sonali Jain-Chandra & Mr. Tidiane Kinda & Ms. Kalpana Kochhar & Shi Piao & Johanna Schauer, 2016. "Sharing the Growth Dividend: Analysis of Inequality in Asia," IMF Working Papers 2016/048, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2016/048
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    Cited by:

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    5. Ekaterina Arapova, 2018. "Determinants Of Household Final Consumption Expenditures In Asian Countries: A Panel Model, 1991-2015," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 18(1), pages 121-140.
    6. Arifur Rahman, 2018. "Equitable Redistribution without Taxation: A lesson from East Asian Miracle countries," LIS Working papers 726, LIS Cross-National Data Center in Luxembourg.
    7. Yang, Yiwen & Greaney, Theresa M., 2017. "Economic growth and income inequality in the Asia-Pacific region: A comparative study of China, Japan, South Korea, and the United States," Journal of Asian Economics, Elsevier, vol. 48(C), pages 6-22.
    8. Julia Dobreva, 2022. "Income Inequality In Asia - Major Trends And Challenges," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 16(1), pages 163-170.
    9. Seong-Min Park & Young-Oh Hong & Logan P Kennedy & Stacey L Clouse, 2021. "Pathways from Relative Deprivation to Individual Violence: The Effect of Subjective Perception and Emotional Resentment in South Korea [‘Foundation for a General Strain Theory of Crime and Delinque," The British Journal of Criminology, Centre for Crime and Justice Studies, vol. 61(6), pages 1469-1485.
    10. Djeneba Doumbia & Mr. Tidiane Kinda, 2019. "Reallocating Public Spending to Reduce Income Inequality: Can It Work?," IMF Working Papers 2019/188, International Monetary Fund.
    11. Tran Thi Kim Oanh & Nguyen Thi Hong Ha, 2023. "Impact of income inequality on climate change in Asia: the role of human capital," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-11, December.
    12. M. Niaz Asadullah & Antonio Savoia & Kunal Sen, 2020. "Will South Asia Achieve the Sustainable Development Goals by 2030? Learning from the MDGs Experience," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 152(1), pages 165-189, November.
    13. Ivica Petrikova, 2022. "The Effects of Local-Level Economic Inequality on Social Capital: Evidence from Andhra Pradesh, India," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(6), pages 2850-2877, December.
    14. Greaney, Theresa M. & Li, Yao, 2017. "Multinational enterprises and regional inequality in China," Journal of Asian Economics, Elsevier, vol. 48(C), pages 120-133.
    15. Lawrence Adu Asamoah, 2021. "Institutional Quality and Income Inequality in Developing Countries: A Dynamic Panel Threshold Analysis," Progress in Development Studies, , vol. 21(2), pages 123-143, April.
    16. Dr. Ameenullah Aman & Dr. Usman Ahmad & Sumera Muhammad Saleem, 2021. "Investigating the Link Between Macroeconomic Factors and Income Inequality of Asian Countries," iRASD Journal of Economics, International Research Alliance for Sustainable Development (iRASD), vol. 3(3), pages 376-387, December.
    17. Raihan, Selim, 2021. "Functional Income Distribution and Inequality in the Asia-Pacific Countries," MPRA Paper 110469, University Library of Munich, Germany.

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    More about this item

    Keywords

    WP; income share; consumption share; countries effort; Inequality; Gini coefficient; Asia; inequality measure; IMF staff calculation; entrepreneurial activity; reducing income gap; poverty rate; per capita income; benefits capital income; net Gini in India; net Gini in Asia; Income inequality; Income distribution; Personal income; Labor share; Asia and Pacific; Global;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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