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Macroeconomics, Human Development, and Distribution

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  • Stephanie Seguino

Abstract

Policies designed to pursue an equity-led macroeconomic growth strategy must take into account feedback effects, with distribution itself influencing macroeconomic outcomes. Under the right conditions, a more equitable distribution of income and opportunities in the form of human development can be a stimulus to growth, funding further investments in human development. Developing the policies to create those conditions is the central challenge for any human development-centered macroeconomic framework. I review here some macro-level policies that achieve this goal, identifying a key role for fiscal policy to raise productivity and for monetary policy to expand employment, a central goal of any macro-inclusive strategy.

Suggested Citation

  • Stephanie Seguino, 2012. "Macroeconomics, Human Development, and Distribution," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 13(1), pages 59-81, February.
  • Handle: RePEc:taf:jhudca:v:13:y:2012:i:1:p:59-81
    DOI: 10.1080/19452829.2011.637376
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    References listed on IDEAS

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    1. Robert Pollin & Gerald Epstein & James Heintz & LĂ©once Ndikumana, 2006. "An Employment-targeted Economic Programme for South Africa," Country Study 1, International Policy Centre for Inclusive Growth.
    2. Amsden, Alice H., 1992. "Asia's Next Giant: South Korea and Late Industrialization," OUP Catalogue, Oxford University Press, number 9780195076035.
    3. Xu, Zeyu, 2007. "A survey on intra-household models and evidence," MPRA Paper 3763, University Library of Munich, Germany.
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