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Open AccessArticle

A Survey of Inclusive Growth Policy

Department of Economics, Sogang University, Seoul 04107, Korea
Department of Economics and Trade, Sejong University, Seoul 05006, Korea
Department of Asia Business International Studies, Chungnam National University, Daejeon 34134, Korea
Authors to whom correspondence should be addressed.
Economies 2019, 7(3), 65;
Received: 29 March 2019 / Revised: 8 June 2019 / Accepted: 18 June 2019 / Published: 4 July 2019
(This article belongs to the Special Issue Growth, Global Poverty Reduction and Income Distribution)
Background: Since the latter part of the 20th Century, countries have been particularly challenged by the trade-off that exists between delivering generous welfare provisions and strong economic growth. Such dynamics have stimulated a need to better understand the causes of income inequality so as to better formulate policies that foster inclusive growth and reduce growing concerns surrounding income inequality. Method: Given its ability to succinctly summarize, analyze, and synthesize an extant body of literature from a certain genre of scholastic endeavor, this study utilizes a literature review as its proposed methodological approach. Results: From our assessment of the literature, we identified four key areas that contribute significantly to income inequality in both advanced and developing economies, these include: (i) pursuing skill-biased technological change; (ii) enhancing education systems; (iii) consolidation of globalization; and (iv) reform of the labor market and its relevant institutions. Conclusion: There is no silver bullet to achieving inclusive growth. Any policy manifesto must seek to offer a coordinated policy platform that looks to deal directly with the causes of inequality. In order to do so, consideration should be given to a range of policy areas including fiscal, education, trade liberalization, and labor market reforms. View Full-Text
Keywords: income inequality; poverty reduction; equity; inclusive growth; fiscal policy; developing Asia; advanced welfare economies income inequality; poverty reduction; equity; inclusive growth; fiscal policy; developing Asia; advanced welfare economies
MDPI and ACS Style

Heshmati, A.; Kim, J.; Wood, J. A Survey of Inclusive Growth Policy. Economies 2019, 7, 65.

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