Trade and Development Report 2012

Inclusive Policies for Sustainable Growth

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In the context of the ongoing fallout from the global financial crisis, income distribution is back to the centre of economic analysis and policies. This publication explores the linkages between income distribution, growth and development. It analyzes the evolution of income inequality over the last decades in different regions and groups of countries. It also examines the explanations given for the widespread rise of inequality. The report questions the thesis that rising inequality is a necessary condition for successful development. Based on a comprehensive theory of economic policy elaborated in former reports, this book argues that only inclusive development policies create the conditions for sustainable and rapid growth.

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Evolution of income inequality: Different time perspectives and dimensions

The world economy has experienced profound changes over the past few decades. Many countries have adopted different development strategies and even changed their economic systems. At the same time, trade and financial globalization have deepened, and technological advances and sectoral shifts are transforming the patterns of production and consumption. Successive financial and economic crises have had varying negative impacts on different regions. And the rapid growth rates of GDP in a number of large developing countries are altering the relative weight of different regions in the international economy. These developments were bound to have an effect on income distribution both within and between countries.

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