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Inequality and sustainable growth : Global and Korean perspectives

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Frame of Image king ahead
4
TREND IN INEQUALITY
Inequality has been increasing in most economies despite the significant improvement in absolute poverty
5
0.55 0.5 0.45
Gini coefficient
0.4 0.35 0.3 0.25 0.2 1980 1985 1990 1995 2000 2005 2010
L atin America and Caribbean (19) Asia and Pacific (14) Middle East and North Africa (12)
Advanced (21) Emer ging Europe (21) S ub-S ahar an Africa (22)
IMF, 2012
• Globalization, which has exerted downward pressure on the wages of low-skilled
workers • Technological change, which has favored high-skilled workers, • Widening inter-regional inequality within economies
More recently, the focus has been on the rising income share of top income earners
6 Gross Income Share of Top One-Percent in Selected Advanced and Developing Economies, 1925–2012(IMF, 2012)
25 25
20
20
Percent
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15
10
10
5
5
0
0
Un ited Kingdom Sou th Africa
Au stralia In d i a
Can ada Un ited States
Fran ce Neth erlan ds
German y Sw e d e n
Japan
IMF, 2012
Wealth is even more unequally distributed
0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 BGD TWN VNM CAN KOR NGA ARG AUS RUS NLD GBR GER FRA ESP MEX CHN USA BRA PAK ITA IND JPN IDN THA CHE TUR
7
IMF, 2012
8
LINKS BETWEEN RISING INEQUALITY AND SUSTAINABLE GROWTH
The studies remain controversial on the trade-off between redistribution and growth
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 Negative effects of redistributive policy: efforts to
reduce inequality could lead to efficiency losses, which lowers sustainable growth equality can help sustain growth
  
 Positive effects of


Full Text
Title Inequality and sustainable growth
Similar Titles
Sub Title

Global and Korean perspectives

Material Type Proceedings
Author(English)

Kim, Yitae

Publisher

Seoul:Ministry of Strategy and Finance

Date 2014-11
Event

KDIS-WBI-CAG Policy Forum

Pages 34
Subject Country China(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding KDI School; MOSF