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Inequality, Inclusive Growth, and Fiscal Policy in Asia

Publication | May 2015
Inequality, Inclusive Growth, and Fiscal Policy in Asia

Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. 

Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians.

Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.

This publication has been copublished with Routledge.

Contents 

  • An overview
  • Room at the top: An overview of fiscal space, fiscal policy, and inclusive growth in developing Asia
  • Fiscal policy and growth in developing Asia
  • Government spending and inclusive growth in developing Asia
  • Benefit incidence of public transfers: Evidence from the People’s Republic of China
  • Fiscal resources for inclusive growth
  • Are current tax and spending regimes sustainable in developing Asia?
  • Fiscal policy and inclusive growth in Latin America: Lessons for Asia
  • Fiscal policy and inclusive growth in advanced countries: Their experience and implications for Asia
  • Summary of key findings, main policy recommendations and concluding observations