Inclusive growth imf. nfostering inclusive growth The IMF also shares its expertise, including through the Middle East Regional Technical Assistance Center and country-specific trust funds. IMF contributions on taxation and inclusive growth can be found in e. The book covers interactions between the informal economy, labor and product markets, gender equality, fiscal institutions and outcomes, social protection, and financial inclusion. MOOC List is learner-supported. Then, it lays out an analytical framework that describes the channels through which public expenditure affects inequality and poverty in the short and long term. We apply the microeconomic concept of a social mobility function at the macroeconomic level Inclusive Growth - Labor Markets Gender and Technology (IGx-LMGT) This course examines inclusive growth from a labor market perspective. g. We also propose reforms to the global system of governance that make the benefits of advances in artificial intelligence more inclusive. Our latest Back to Basics video explains the concept of inclusive growth and why it’s important for governments to reduce poverty and ensure that everyone benefits from economic growth. Learn how to formulate a plan to build a resilient, green, and inclusive economy and monitor how macroeconomic policies can affect growth, poverty, inequality, and job creation. 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. Economic inclusion is a high priority issue for the IMF. e. The growth path has become more divergent across countries. The International Monetary Fund (IMF) works to achieve sustainable growth and prosperity for all of its 191 member countries. Nov 14, 2019 · IMF recent analysis has shown that persistently high inequality is associated with lower, less durable economic growth and greater financial instability. Despite recent progress, gender gaps remain across all stages of life, including before birth, and negatively impact health Identify the linkages between growth, poverty, and inequality. Summarize the inclusive growth framework and explain how to use growth diagnostics to prioritize policy actions. It describes the main goals of an inclusive fiscal policy and the possible tradeoffs between growth and equity. The stance of monetary policy should reflect a country-specific pace of economic recovery and disinflationary processes. Priorities for Inclusive Growth International Monetary Fund Search for other papers by International Monetary Fund in Current site Google Scholar Close G-20 policymakers should remain focused on achieving inflation goals, while striving to restore growth prospects. The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality in Asia Ravi Balakrishnan, Chad Steinberg, and Murtaza Syed 2013 International Monetary Fund WP/ The IMF produces annual G-20 Reports on Strong, Sustainable, Balanced, and Inclusive Growth (SSBIG) to summarize progress toward SSBIG and recommended policy actions. The first steps toward inclusive and sustainable development were taken in 2015. in support of inclusive growth. Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development. Overall, inclusive growth embodies the principle that wealth creation, economic freedom, and equal opportunity can coexist. ” Sep 30, 2018 · Trade integration can play a much larger role in boosting shared prosperity. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on Oct 9, 2023 · The road to higher and more inclusive growth, however, remains steep. It examines claims that the rise in inequality in many countries can be attributed to the concurrent rise in trade competition, especially from EMEs like China, spurring trade tensions and protectionist measures. Define and calculate indices of poverty and inequality, including growth incidence curves. ” Many times it is unclear what people have in mind when they define growth as inclusive and how this type of growth relates to the widely discussed Lectures introduce the basic concepts of inclusive growth, with a special focus on long-term sustainability, while workshops offer participants an opportunity to apply the concepts and think about the design of inclusive growth strategies, drawing from country case studies. We document growing support for a rethink of the social contract to make growth more inclusive and discuss some of its broad elements. The note concludes that countries have multiple options to enhance the effective progressivity of their tax systems We explore the role of economic policies and macrofinancial conditions in explaining inclusive growth and its components, using a new measure of inclusive growth. Apr 21, 2021 · The Joint Effect of Emigration and Remittances on Economic Growth and Labor Force Participation in Latin America and the Caribbean Understanding Barriers to Financial Access: Insights from Bank Pricing Data Mar 12, 2021 · This paper surveys the literature on the relationship between international trade and inclusive growth. It promotes the notion that a society can be free and equal while also pursuing long-term economic growth and well-being. ” It is often used interchangeably with a suite of other terms, including “broad-based growth,” “shared growth,” and “pro-poor growth. We apply the microeconomic concept of a social mobility function at the macroeconomic level to Mar 4, 2024 · The idea of “inclusive growth” seeks to strike this balance. The IMF is committed to the SDGs, and is supporting its members in their implementation in areas relevant to its mandate of financial stability and sustainable and inclusive economic growth. However, new technologies and trends in market concentration are stifling future innovation while contributing to the marked increase in Mar 19, 2021 · In this paper, we review the role of the political economy in inclusive growth. The IMF will deepen its analysis of the relationships between public investment, growth, and debt sustainability to help identify the appropriate pace for scaling up infrastructure spending. Diferent interpretations of freedom exist. Different interpretations of freedom exist. The paper investigates the conflicting literature showing the aggregate Abstract The purpose of this chapter is to define the meaning of the term “inclusive growth. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being. DEFINING INCLUSIVE GROWTH Rapid and sustained poverty reduction requires IG that allows people to contribute to and benefit from economic growth. They therefore require a holistic framework to examine their Apr 29, 2021 · Is there a one-size-fits-all approach to inclusive growth? We look at four key case studies across advanced and emerging markets—the Nordics, India, Brazil, and Egypt—to try to answer this question. Apr 29, 2021 · Is there a one-size-fits-all approach to inclusive growth? We look at four key case studies across advanced and emerging markets—the Nordics, India, Brazil, and Egypt—to try to answer this question. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic This course, which is presented by the Institute for Capacity Development (ICD), is designed to increase participants’ understanding of inclusive growth and give them analytical and operational tools to evaluate, measure, and monitor how macroeconomic policies can affect growth, climate change, poverty, inequality, and job creation. These issues are intertwined. The IMF is to be highly commended for its powerful focus on inclusive growth, and for mobilizing the best evidence and best practices. Define and calculate indices of poverty and inequality. Country distributions are calibrated by combining PPP GDP per capita and income distribution from survey data. Jan 1, 2025 · This course examines the concept of governance and discusses why it is so important to improve the quality of governance for trying to achieve inclusive growth. For growth to be sustainable and efective in reducing poverty, it needs to be inclusive (Berg and Ostry 2011a; Kraay 2004). We apply the microeconomic concept of a social mobility function at the macroeconomic level to Abstract The government’s ability to deliver inclusive growth crucially depends on the quality of governance. When you buy through links on our site, we may earn an affiliate commission. At a broad level, IMF engagement on the SDGs is aligned with the five SDG pillars of people, prosperity, planet, peace, and partnership. Income inequality has risen in most parts of the world since 1990. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic The International Monetary Fund (IMF) is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The assessment relies on the decomposition of the change in poverty into growth, distribution, and decile effects, which can be Mar 12, 2021 · This paper surveys the literature on the relationship between international trade and inclusive growth. Since the term can be open to interpretation, let me offer a definition: inclusive growth seeks to boost national wealth and well-being while reducing poverty, ensuring equity across generations, and preserving economic freedoms. May 1, 2025 · Summarize an overall framework of inclusive growth and provide an overall diagnosis for a country to prioritize policy action. Since the term can be open to inter-pretation, let me ofer a definition: inclu-sive growth seeks to boost national wealth and well-being while reducing poverty, ensuring equity across generations, and preserving economic freedoms. The chapters in this vol- ume complement another set of important IMF studies in recent years, which have examined the fiscal framework to achieve the SDGs. 政府在现代经济中发挥着何种作用？是否有可能在不牺牲经济自由或财富的情况下创造一个更加平等的社会？我们应该强调机会平等还是结果平等？“包容性增长”理念寻求实现这种平衡。 既然这个词可以有多种解释，那么请允许我提供一种定义：包容性增长旨在增加国民财富和福祉，同时减少 What Is Inclusive Growth? Inclusive growth refers to both the pace and distribution of economic growth. Abstract In this paper, we review the role of the political economy in inclusive growth. Mar 4, 2021 · This paper considers various dimensions and sources of gender inequality and presents policies and best practices to address these. We examine the role of macroeconomic policies (fiscal, monetary, macroprudential, and exchange rate) and measures of inclusiveness (income inequality, consumption inequality, wealth inequality, poverty, and unemployment) across countries at different income During the past financial year, the IMF’s 189 member countries faced a number of pressing challenges. In collaboration with member countries to foster correspondent banking relationships the Fund is working to promote financial access along with efforts to improve financial risk mitigation and strengthen financial stability (IMF, 2017e). We highlight qualitatively in these countries the key components of inclusive growth models, outcomes from these models, and the road ahead in the respective countries. This paper reviews the linkages between governance and inclusive growth, and key policies to improve governance. Informality is a widespread and persistent phenomenon that affects how fast economies can Jan 1, 2025 · This course examines the role of fiscal policy, a combination of expenditure and tax policies, in supporting inclusive growth and highlights best practices for designing expenditure programs and tax policies to foster inclusion. Lectures introduce the basic concepts of inclusive growth, with a special focus on long-term sustainability, while workshops offer participants an opportunity to apply the concepts and think about the design of inclusive growth strategies, drawing from country case studies. The movement of people across country borders, especially from less developed to richer countries, has a substantial impact in several dimensions. Measure the extent to which a country has achieved inclusive growth, by using a wide range of indicators. To integrate equity and growth in a unified measure, this note proposes a measure of inclusive growth based on a utilitarian social welfare function drawn from consumer choice litera-ture, where inclusive growth depends on two factors: (i) in-come growth and (ii) income distribution. 1 Rapid pace of growth is unquestionably necessary Jul 3, 2020 · Over the past decades ASEAN countries have experienced rapid economic growth accompanied by a dramatic fall in poverty rates, but income inequality has not retreated. Dec 4, 2020 · This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i. org. Stiglitz We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. The IMF’s capacity building and technical assistance work to achieve more inclusive growth has also expanded. High inequality is negatively associated with macroeconomic stability and sustainable growth—core to the Fund’s mandate in promoting systemic, balance of payments, and domestic stability. And Multilateral action should continue to build on the progress made on pandemic preparedness. In the following section, we discuss salient competition and growth policies and highlight key elements needed for those policies to promote inclusive growth. Jun 11, 2021 · Advances in artificial intelligence and automation have the potential to be labor-saving and to increase inequality and poverty around the globe. Dec 16, 2021 · Abstract Rising inequality and widespread poverty, social unrest and polarization, gender and ethnic disparities, declining social mobility, economic fragility, unbalanced growth due to technology and globalization, and existential danger from climate change are urgent global concerns of our day. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on Mar 12, 2021 · This paper surveys the literature on the relationship between international trade and inclusive growth. It explores the linkages between governance and inclusive growth. In this course, IMF economists will introduce you to the roles of the private sector and government in fostering inclusive growth. Productivity growth Technological Progress, Artificial Intelligence, and Inclusive Growth by Anton Korinek, Martin Schindler, and Joseph E. But the rise in inequal-ity in frontier Asia has been unprecedented, compared with both other May 30, 2013 · We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on New IMF research argues policymakers should pursue both economic growth and tackling widening inequalities together. First, it affects the migrants themselves by allowing them to achieve higher income as a result of their higher productivity in the Abstract We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. Past G20background notes are available on IMF. Productivity growth Our latest Back to Basics video explains the concept of inclusive growth and why it’s important for governments to reduce poverty and ensure that everyone benefits from economic growth. . Based on a review of the empirical literature, it discusses the policy options Mar 19, 2021 · We provide an overview of the theories and empricial evidence on the complex relationship among innovation, competition, and inclusive growth. Define climate change and the societal, economic, and environmental risks posed at the country level and at the global level. Mar 19, 2021 · We survey the literature on the relationship between macroeconomic stability and inclusive growth and identify gaps in our knowledge. The challenge is to continue that work into the future. In some ways, of course, inequitable development is a global issue. Mar 19, 2021 · International migration is an important channel of material improvement for individuals and their offspring. Some macroeconomic policies and reforms may have adverse distributional implications, which in turn can undermine public support for reforms. IMF work on these challenges—slower trade, declining productivity, gender inequality, inclusive growth, and debt management—is a central focus of this 2017 Annual Report. Outline the key policies to mitigate and adapt to climate change. With women accounting for fifty percent of the global population, inclusive growth can only be achieved if it promotes gender equality. The focus is on identifying tax measures that can boost revenue mobilization in a way that is both inclusive and growth friendly. The policies include (1) structural reform, automation, improving rules and procedures (including for fiscal and monetary policies) to limit the discretion and hence the space for May 30, 2017 · The paper suggests an operationally usable framework for the evaluation of growth inclusiveness—the inclusive growth framework (IGF). We examine the role of macroeconomic policies (fiscal, monetary, macroprudential, and exchange rate) and measures of inclusiveness (income inequality, consumption inequality, wealth inequality, poverty, and unemployment) across countries at different income Mar 19, 2021 · In this paper, we review the role of the political economy in inclusive growth. Explain the non-income-based measures of inclusiveness and explain the multi-dimensional social welfare measures. It also covers the challenges to inclusion from longer-term Oct 24, 2012 · This paper defines inclusive growth as rapid, sustained growth that is inclusive of a large part of a country’s labor force and distinguishes it from a suite of other terms, including broad Sep 30, 2018 · Trade integration can play a much larger role in boosting shared prosperity. They also give rise to winner-takes-all dynamics that advantage highly skilled individuals and countries that are at the forefront of technological progress. This course, which is presented by the Institute for Capacity Development (ICD), is designed to increase participants’ understanding of inclusive growth and give them analytical and operational tools to evaluate, measure, and monitor how macroeconomic policies can affect growth, climate change, poverty, inequality, and job creation. Identify indicators of inclusiveness that are non-income-based and explain multi-dimensional social welfare measures. Social expenditures, spending on education, and educational attainment rates are important for fostering inclusive growth. It reviews key policies to improve governance, including structural reform, automation, improving rules and procedures (for fiscal and monetary policies) to limit policy Inclusive Growth - Fiscal Policy (IGx-FP) This course examines the role of fiscal policy in supporting inclusive growth and highlights best practices for designing expenditure programs and tax policies to foster inclusion. The paper investigates the conflicting literature showing the aggregate Jun 11, 2021 · We analyze the economic forces behind these developments and delineate domestic economic policies to mitigate the adverse effects while leveraging the potential gains from technological advances. 4 INTERNATIONAL MONETARY FUND GLOBAL GROWTH PROSPECTS AND INEQUALITY TRENDS 1 The global economy has weathered successive shocks in recent years, but global growth has been uneven and medium -term prospects are subdued. It starts with a discussion of the key principles from tax theory to guide practical tax design. The IMF is governed by and accountable to its member countries. A cross This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i. May 30, 2013 · We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. This report discusses the G-20’s progress during the past year towards the goal of strong, sustainable, balanced, and inclusive growth and provides policy recommendations to help reach this goal. The Commission on Growth and Devel-opment (2008) notes that inclusiveness—a concept that en-compasses equity, equality of opportunity, and protection in market and Abstract We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on This online course examines the conceptual framework and practical policies for achieving strong, sustainable, green, and inclusive growth. We analyze the economic forces behind these developments and delineate domestic economic Sep 1, 2021 · Define the concept of inclusive growth and its many dimensions, outline a framework to systematically analyze inclusive growth issues, and establish the links between growth and inclusion. That is why understanding informality is part of how the Fund is delivering on its commitments to help countries meet the 2030 Agenda for Sustainable Development Goals. (2015) and the Fiscal Monitor of October 2017. The idea of “inclusive growth” seeks to strike this balance. To promote inclusive growth, that is increasing broad-based growth and lowering inequality, considering innovation and competition is paramount. Design a reform strategy to address climate change, considering country-specific circumstances and ensuring the reforms are inclusive. To ensure sustainable growth, policymakers must promote inclusive policies. We apply the microeconomic concept of a social mobility function at the macroeconomic level Mar 19, 2021 · This paper explores the role of public expenditure in fostering inclusive growth. It starts with a presentation of salient features of public expenditure. The academic literature attributes the rise mainly to three factors: globalization, skill-biased technological change, and the decreasing bargaining power of workers. Competition and innovation-led growth are critical to drive productivity gains and support broad-based growth. Lectures cover key concepts and metrics of inclusive growth, as well as fiscal, financial, and structural policies that support it - particularly those related to labor markets, human capital, and sustainable growth. This research aims at identifying factors which could contribute to more equally distributed growth in ASEAN. The policies include (1) structural reform, automation, improving rules and procedures (including for fiscal and monetary policies) to limit the discretion and hence the "Volume 2013 (2013): Issue 135 (May 2013): Inclusive Growth: Measurement and Determinants" published on 30 May 2013 by International Monetary Fund. Rising inequality and widespread poverty, social unrest and polarization, gender and ethnic disparities, declining social mobility, economic fragility, unbalanced growth due to technology and globalization, and existential danger from climate change are urgent global concerns of our day. We apply the microeconomic concept of a social mobility function at the macroeconomic level to Oct 10, 2018 · [2] Joint Paper by IMF, WTO, and World Bank: “ Reinvigorating Trade and Inclusive Growth. The report does not necessarily reflect the views of G20 members. It explains how an inclusive labor market is not only important for an individual's economic well-being, but also helps the economy operate more efficiently. The global surge in public protests against perceptions of bad governance and lack of inclusive growth are a reminder of the importance of developing strong institutions on the one hand, and of expanding the benefits of the formal economy to encourage economic growth and opportunity on the other. This note provides guidance on tax policy reforms after economies have recovered from the COVID-19 crisis and fiscal consolidation becomes imperative. Boadway and Keen (2000), Bastagli, Coady and Gupta (2012), IMF (2014), Gupta et al. Apr 23, 2021 · The government’s ability to deliver inclusive growth crucially depends on the quality of governance. To measure inclusive growth, we use a variable integrating per capita income growth and an equity index. Some of the analysis Oct 9, 2023 · The road to higher and more inclusive growth, however, remains steep. Oct 17, 2024 · This chapter examines the extent to which high level International Monetary Fund (IMF) discourse actively reflects commitment to redistribution (through public spending, public service expansion, and fiscal reform) as an essential component of inclusive growth, or whether inclusive growth is framed within the IMF’s established patterns of Nov 21, 2024 · Inclusive Growth and the IMF Four years ago, at the World Economic Forum in Davos, IMF Managing Director Christine Lagarde warned of the dangers of rising inequality, a topic that has now risen to the very top of the global policy agenda. It also covers the challenges to inclusion from longer-term Oct 24, 2012 · This paper defines inclusive growth as rapid, sustained growth that is inclusive of a large part of a country’s labor force and distinguishes it from a suite of other terms, including broad Jul 23, 2021 · The Global Informal Workforce is a fresh look at the informal economy around the world and its impact on the macroeconomy. Abstract The paper suggests an operationally usable framework for the evaluation of growth inclusiveness—the inclusive growth framework (IGF). Based on the data on growth, poverty, and inequality, the framework allows for the quantitative assessment of growth inclusiveness. The policies include (1) structural reform, automation, improving rules and procedures (including for fiscal and monetary policies) to limit the discretion and hence the space for Apr 23, 2021 · The government’s ability to deliver inclusive growth crucially depends on the quality of governance. sznfeaenb03zgk33b5iw2bs4ej7izin8lurhhve51gyapgu