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[IWS] ADB: FISCAL POLICY AND INCLUSIVE GROWTH IN ADVANCED COUNTRIES: THEIR EXPERIENCE AND IMPLICATIONS FOR ASIA [8 December 2014]
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Asian Development Bank (ADB)
ADB Economics Working Paper Series No. 422
FISCAL POLICY AND INCLUSIVE GROWTH IN ADVANCED COUNTRIES: THEIR EXPERIENCE AND IMPLICATIONS FOR ASIA [8 December 2014]
by Almas Heshmati, Jungsuk Kim, and Donghyun Park
[full-text, 24 pages]
As developing Asia explores the more active use of fiscal policy for inclusive purposes, it can learn from the experiences of advanced countries, which suggest that fiscal policy can have a significant effect on inequality.
This study seeks to draw relevant lessons from the advanced economies for developing Asia in using fiscal policy to tackle inequality. The experience of the advanced economies clearly shows the sizable equity-promoting potential of fiscal policy. At the same time, developing Asia’s pursuit of more inclusive fiscal policy must not come at the expense of economic growth or fiscal sustainability.
Tables and Figures
Brief Comparison of Government Sizes
Social Welfare Models
A Review of the Literature
Fiscal Policies, Poverty Reduction, and the Equity-Efficiency Trade-Off
Policy Implications for Developing Asia
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