Title Causes and consequences of income inequality : a global perspective / prepared by Era Dabla-Norris, Kalpana Kochhar, Nujin Suphaphiphat, Frantisek Ricka, and Evridiki Trounta

Published [Washington, District of Columbia] : International Monetary Fund, [2015] Ottawa, Ontario : Canadian Electronic Library, 2015

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Description 1 online resource (39 pages) : color illustrations, color map Series IMF staff discussion note ; SDN/15/13 IMF staff discussion note ; SDN/15/13. Summary This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth---that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive Notes "June 2015." "Strategy, Policy and Review Department"--Page 2 Bibliography Includes bibliographical references (pages 34-39) Notes Online resource; title from PDF title page (IMF, viewed August 04, 2016) Subject Income distribution. Economic policy. Economic policy Income distribution American middle class. Developed country. Developing country. Development economics. Economic globalization. Economic growth. Economic inequality. Economics. Economy. Education. Genre/Form Electronic books Form Electronic book Author Kochhar, Kalpana, author Suphaphiphat, Nujin, author Ricka, Frantisek, author Trounta, Evridiki, author International Monetary Fund. Strategy, Policy, and Review Department, issuing body. ISBN 1513555189 9781513555188 1513544373 1513550721 9781513550725 1513547437 9781513547435 9781513544373

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