Hidden Bibliographic Details
| Other authors / contributors: | Mishra, Saurabh, 1979- author.
Peiris, Shanaka J. (Shanaka Jayanath), 1975- author.
International Monetary Fund, issuing body.
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| ISBN: | 1299678289
9781299678286
1484380681
9781484380680
1484369793
9781484369791
1484388305
9781484388303
9781484323212
1484323211
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| Notes: | "May 2013."
Includes bibliographical references (pages 24-26).
English.
Online resource; title from PDF caption title (IMF, viewed September 4, 2013).
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| Summary: | 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. Country distributions are calibrated by combining PPP GDP per capita and income distribution from survey data. We apply the microeconomic concept of a social mobility function at the macroeconomic level to measure inclusive growth that is closer to the absolute definition of pro-poor growth. This dynamic measure permits us to focus on inequality as well as distinguish between countries where per capita income growth was the same for the top and the bottom of the income pyramid, by accounting for the pace of growth. Our results indicate that macroeconomic stability, human capital, and structural changes are foundations for achieving inclusive growth. The role of globalization could also be positive with foreign direct investment and trade openess fostering greater inclusiveness, while financial deepening and technological change have no discernible effect.
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| Other form: | Print version: 9781299678286
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