Fiscal Policy for Inclusive Growth: An Overview

31 Pages Posted: 3 Feb 2015

See all articles by Gemma Bolotaulo Estrada

Gemma Bolotaulo Estrada

Asian Development Bank - Economic Research

Sang-Hyop Lee

University of Hawaii - Department of Economics

Donghyun Park

Asian Development Bank - Economic Research

Date Written: December 2014

Abstract

In recent years, inequality has risen in the region alongside rapid economic growth. The widening income gap strengthens the case for a government response, and fiscal policy is one of the most suitable policy instruments to promote a more equitable society that provides opportunities for all. Developing Asia has trailed other parts of the world in equity-promoting fiscal expenditures, namely education, health care, and social protection, and thus the region needs to do more. Expanding public expenditures without boosting fiscal resources can, however, jeopardize fiscal sustainability. The key challenge is how to use fiscal policy to make growth more inclusive while maintaining fiscal sustainability.

Keywords: fiscal policy, inclusive growth, Asia, economic growth, equity

JEL Classification: D31, H20, H50

Suggested Citation

Estrada, Gemma Bolotaulo and Lee, Sang-Hyop and Park, Donghyun, Fiscal Policy for Inclusive Growth: An Overview (December 2014). Asian Development Bank Economics Working Paper Series No. 423, Available at SSRN: https://ssrn.com/abstract=2558932 or http://dx.doi.org/10.2139/ssrn.2558932

Gemma Bolotaulo Estrada (Contact Author)

Asian Development Bank - Economic Research ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

Sang-Hyop Lee

University of Hawaii - Department of Economics ( email )

2424 Maile Way, SSB 542
Honolulu, HI 96822
United States
808-956-8590 (Phone)

Donghyun Park

Asian Development Bank - Economic Research ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

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