Shared Prosperity : Paving the Way in Europe and Central Asia

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collection.link.136
https://openknowledge.worldbank.org/handle/10986/6001
collection.link.47
https://openknowledge.worldbank.org/handle/10986/2155
collection.name.136
Russian PDFs Available
collection.name.47
Europe and Central Asia Studies
dc.contributor.author
Bussolo, Maurizio
dc.contributor.author
Lopez-Calva, Luis F.
dc.date.accessioned
2014-04-09T13:57:21Z
dc.date.available
2014-04-09T13:57:21Z
dc.date.issued
2014-04-09
dc.description.abstract
The World Bank has recently defined two strategic goals: ending extreme poverty and boosting shared prosperity. Shared prosperity is measured as income growth among the bottom 40 percent of the income distribution in the population. The two goals should be achieved in a way that is sustainable from economic, social, and environmental perspectives. Shared Prosperity: Paving the Way in Europe and Central Asia focuses on the second goal and proposes a framework that integrates both macroeconomic and microeconomic elements. The macro variables, particularly changes in relative prices, affect income growth differentially along the income distribution; at the same time, the microeconomic distribution of assets at the bottom of the distribution determines the capacity of the bottom 40 to take advantage of the macroeconomic environment and contribute to overall growth. Growth and the incidence of growth are thus understood as jointly determined processes. Besides this integration, the main input of the framework is the finding that the trade-off between growth and equity may be an issue only in the short run. Over the long run, redistribution policies that increase the productive capacity of the bottom 40 percent enhance the overall growth potential of the economy. This report considers shared prosperity in Europe and Central Asia and concludes that the performance in sharing prosperity during the period 2000–10 was good, on average, but heterogeneous across countries and that sustainability is unclear. It also describes examples of the application of the framework to selected countries in the region. Finally, the report provides a tool to structure the policy discussion around the goal of shared prosperity and explains that specific policy links associated with the goal can be established only after a thorough analysis of the country-specific context.
en
dc.identifier.isbn
978-1-4648-0230-0
dc.identifier.other
10.1596/978-1-4648-0230-0
dc.identifier.uri
http://hdl.handle.net/10986/17696
dc.language.iso
en_US
dc.publisher
Washington, DC: World Bank
dc.relation.ispartofseries
Europe and Central Asia Studies;
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
asset-based approach
dc.subject
economic growth
dc.subject
human capital
dc.subject
income distribution
dc.subject
income growth
dc.subject
inequality
dc.subject
shared prosperity
dc.subject
poverty
dc.subject
sustainable development
dc.title
Shared Prosperity : Paving the Way in Europe and Central Asia
en
okr.date.disclosure
2014-04-09
okr.doctype
Publications & Research :: Publication
okr.externalurl
http://www.worldbank.org/content/dam/Worldbank/Feature%20Story/ECA/shared-prosperity-paving-the-way-in-europe-and-central-asia.pdf
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Poverty
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-0230-0
okr.language.supported
en
okr.peerreview
Academic Peer Review
okr.region.administrative
Europe and Central Asia
okr.region.geographical
Europe
okr.region.geographical
Central Asia
okr.region.geographical
Europe and Central Asia
okr.region.geographical
Eastern Europe
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic
Poverty Reduction :: Achieving Shared Growth
okr.topic
Poverty Reduction :: Equity and Development
okr.topic
Poverty Reduction :: Inequality
okr.topic
Poverty Reduction :: Poverty Assessment
okr.unit
ECSP3

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