By Anoop Singh
For the past two or three decades, rising inequality—inequality of incomes, of economic outcomes and of economic opportunities—has taken a back seat to the goal of boosting overall growth. But growing discontent with the fallout of the global financial crisis has put inequality back on top of the policy agenda. While the symptoms may be different, tackling inequality is no less an issue in Asia.
Indeed, research shows that inequality can be counterproductive to sustaining longer-term growth. So, in increasingly turbulent global economic times, this gives added importance to promoting shared—or inclusive—growth in Asia that is more likely to be sustained.
This has been a major focus our latest Regional Economic Outlook, which we presented in Manila today. A great challenge for the government here, and for other countries across the region, is to raise living standards for a wide section of their populations. (more…)
Filed under: Asia, Economic outlook, growth, Inequality, International Monetary Fund, 日本語, 中文 | Tagged: economic inequality, exchange rate, financial reform, fiscal policy, governance reforms, IMF, iMFdirect, inclusive growth, income inequality, inequality, International Monetary Fund, labor market reform, poverty reduction, raise living standards, Regional Economic Outlook: Asia and Pacific, social protection, social safety nets | 1 Comment »