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Policy approaches to reduce inequalities while boosting productivity growth

Author

Listed:
  • Emilia Soldani
  • Orsetta Causa
  • Maxime Nguyen
  • Tomasz Kozluk

Abstract

Over the past decades, productivity growth and technology diffusion have slowed down, and business dynamism has declined in many advanced and emerging economies. Meanwhile, inequalities in economic outcomes, such as in income and wealth, and in opportunities, such as access to quality education and training, are pervasive. By hampering social mobility and the efficient allocation of talents, inequality of opportunities may trigger slower growth and even higher inequalities in outcomes. Policies to boost growth and make it more inclusive should focus on (i) ensuring broad access to quality education, from childhood onwards, and upskilling throughout working lives; (ii) addressing labour market insecurity and informality and improving job quality; (iii) curbing market power in products and labour markets to boost business dynamism; (iv) enhancing the efficiency and progressivity of taxes and transfer systems; and (v) fostering international cooperation, for instance in trade and taxation.

Suggested Citation

  • Emilia Soldani & Orsetta Causa & Maxime Nguyen & Tomasz Kozluk, 2024. "Policy approaches to reduce inequalities while boosting productivity growth," OECD Economics Department Working Papers 1819, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:1819-en
    DOI: 10.1787/af121c8f-en
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    More about this item

    Keywords

    economic growth; inequality; productivity;
    All these keywords.

    JEL classification:

    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy
    • K2 - Law and Economics - - Regulation and Business Law
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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