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Links between Growth, Inequality, and Poverty : A Survey

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  • Cerra,Valerie
  • Lama,Ruy
  • Loayza,Norman V.

Abstract

Is there a trade-off between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.

Suggested Citation

  • Cerra,Valerie & Lama,Ruy & Loayza,Norman V., 2021. "Links between Growth, Inequality, and Poverty : A Survey," Policy Research Working Paper Series 9603, The World Bank.
    • Handle: RePEc:wbk:wbrwps:9603
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    7. Hlasny, Vladimir & Asadullah, M Niaz & Sabra, Alia, 2022. "The Adoption of the Multidimensional Poverty Index in Developing Asia: Implications for Social Program Targeting and Inequality Reduction," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(3), pages 185-195.

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    Inequality; Poverty Reduction Strategies; Economic Growth; Industrial Economics; Economic Theory&Research; International Trade and Trade Rules;
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