The Political Economy of Inclusive Growth: A Review

Author: Barbara Dutzler, Mr. Simon Johnson, and Ms. Priscilla S Muthoora

Volume/Issue: Volume 2021 Issue 082

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , Economics / General , International - Economics , Political Economy , Political Economy , Inequality , Redistribution , Growth , Labor program , income skew , skew of voter turnout , opposition to Redistribution , public social , Income inequality , Income , Inclusive growth , Fiscal redistribution , Global , Europe , Social protection spending , COVID-19 , government policy , populist government , government commitment , inhibiting government responsiveness , government legitimacy

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Summary

In this paper, we review the role of the political economy in inclusive growth. We find that political economy forces on the demand and supply side have weakened redistribution over time and contributed to a new wave of populism. We document growing support for a rethink of the social contract to make growth more inclusive and discuss some of its broad elements.