Overview

In the era of globalization and liberalization, the world is enjoying high growth as well as suffering from the ill-effects of unequal distribution of its economic outcomes. The activities of anti-government demonstrations in China and across the world via the Occupy Wall Street Movement highlight that inequality has become an international phenomenon. It is apparent in both poor countries under authoritarianism and rich countries governed by a democratic regime. Thus, inequality has become not only a hurdle to development but also a threat to social and political stability. The spread of the Jasmine Revolution across parts of North Africa and the Arab Spring are illustrative of what can happen under certain circumstances.This book confirms the inconsistencies between high growth and increasing inequality via a series of case studies across 11 countries, numerous regions, and OECD members. Many of the case studies draw upon original household surveys. Our findings indicate the seriousness of income inequality, explore factors that have caused the inequality and analyze their economic and social consequences.The book raises, and deals with, three key questions: (1) Can high growth reduce inequality gradually? (2) Can government intervention be effective in equalizing income distribution? (3) Is the income disparity an engine for, or an obstacle of, high growth?

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9789814401685

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Is rapid economic growth compatible with acceptably low income inequality? Is inequality good or bad for growth? Is growth good or bad for inequality? This book presents eleven country studies and several chapters on specific relationships between growth and inequality. It therefore provides a wealth of information that will help to answer these questions of great and growing importance in today's world. -- Professor John Knight The University of Oxford This book shows that income disparity is a result of economic and social development and that increasing inequality may lead to social and political instability. This, in turn, is likely to affect the economic development process. -- Professor Li Shi Beijing Normal University This book provides a useful assessment of growth and inequality in a rapidly changing world. Several chapters focus on the growing concerns with rising inequality, the cause and effect of such inequality, and its relation to overall growth and poverty reduction. -- Shaohua Chen Senior Statistician, The Development Economics Research Group of the World Bank China's economic growth and structural change in the reform era and its acceleration in the early twenty first century are reshaping the global economy. Perceptions of whether the fruits of growth have been distributed equitably will determine whether growth retains its priority. -- Professor Ross Garnaut Vice-Chancellor's Fellow, The University of Melbourne

"China's economic growth and structural change in the reform era and its acceleration in the early twenty first century are reshaping the global economy. Perceptions of whether the fruits of growth have been distributed equitably will determine whether growth retains its priority. -- Professor Ross Garnaut ""Vice-Chancellor's Fellow, The University of Melbourne"" Is rapid economic growth compatible with acceptably low income inequality? Is inequality good or bad for growth? Is growth good or bad for inequality? This book presents eleven country studies and several chapters on specific relationships between growth and inequality. It therefore provides a wealth of information that will help to answer these questions of great and growing importance in today's world. -- Professor John Knight ""The University of Oxford"" This book provides a useful assessment of growth and inequality in a rapidly changing world. Several chapters focus on the growing concerns with rising inequality, the cause and effect of such inequality, and its relation to overall growth and poverty reduction. -- Shaohua Chen ""Senior Statistician, The Development Economics Research Group of the World Bank"" This book shows that income disparity is a result of economic and social development and that increasing inequality may lead to social and political instability. This, in turn, is likely to affect the economic development process. -- Professor Li Shi ""Beijing Normal University"""

Is rapid economic growth compatible with acceptably low income inequality? Is inequality good or bad for growth? Is growth good or bad for inequality? This book presents eleven country studies and several chapters on specific relationships between growth and inequality. It therefore provides a wealth of information that will help to answer these questions of great and growing importance in today's world. -- Professor John Knight The University of Oxford China's economic growth and structural change in the reform era and its acceleration in the early twenty first century are reshaping the global economy. Perceptions of whether the fruits of growth have been distributed equitably will determine whether growth retains its priority. -- Professor Ross Garnaut Vice-Chancellor's Fellow, The University of Melbourne This book shows that income disparity is a result of economic and social development and that increasing inequality may lead to social and political instability. This, in turn, is likely to affect the economic development process. -- Professor Li Shi Beijing Normal University This book provides a useful assessment of growth and inequality in a rapidly changing world. Several chapters focus on the growing concerns with rising inequality, the cause and effect of such inequality, and its relation to overall growth and poverty reduction. -- Shaohua Chen Senior Statistician, The Development Economics Research Group of the World Bank

China's economic growth and structural change in the reform era and its acceleration in the early twenty first century are reshaping the global economy. Perceptions of whether the fruits of growth have been distributed equitably will determine whether growth retains its priority. -- Professor Ross Garnaut Vice-Chancellor's Fellow, The University of Melbourne This book provides a useful assessment of growth and inequality in a rapidly changing world. Several chapters focus on the growing concerns with rising inequality, the cause and effect of such inequality, and its relation to overall growth and poverty reduction. -- Shaohua Chen Senior Statistician, The Development Economics Research Group of the World Bank Is rapid economic growth compatible with acceptably low income inequality? Is inequality good or bad for growth? Is growth good or bad for inequality? This book presents eleven country studies and several chapters on specific relationships between growth and inequality. It therefore provides a wealth of information that will help to answer these questions of great and growing importance in today's world. -- Professor John Knight The University of Oxford This book shows that income disparity is a result of economic and social development and that increasing inequality may lead to social and political instability. This, in turn, is likely to affect the economic development process. -- Professor Li Shi Beijing Normal University

This book provides a useful assessment of growth and inequality in a rapidly changing world. Several chapters focus on the growing concerns with rising inequality, the cause and effect of such inequality, and its relation to overall growth and poverty reduction. -- Shaohua Chen Senior Statistician, The Development Economics Research Group of the World Bank

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