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    Shared Prosperity: Paving the Way in Europe and Central Asia
    Shared Prosperity: Paving the Way in Europe and Central Asia
    Shared Prosperity: Paving the Way in Europe and Central Asia
    Ebook193 pages1 hour

    Shared Prosperity: Paving the Way in Europe and Central Asia

    By Maurizio Bussolo and Luis F. Lopez-Calva

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    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.
    LanguageEnglish
    PublisherWorld Bank Publications
    Release dateApr 8, 2014
    ISBN9781464802676
    Shared Prosperity: Paving the Way in Europe and Central Asia

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      Book preview

      Shared Prosperity - Maurizio Bussolo

      EUROPE AND CENTRAL ASIA STUDIES

      Europe and Central Asia Studies feature analytical reports on main challenges and opportunities faced by countries in the region, with the aim to inform a broad policy debate. Titles in this regional flagship series undergo extensive internal and external review prior to publication.

      Shared Prosperity: Paving the Way in Europe and Central Asia

      Maurizio Bussolo and Luis F. Lopez-Calva

      © 2014 International Bank for Reconstruction and Development/The World Bank

      1818 H Street NW

      Washington, DC 20433

      Telephone: 202-473-1000

      Internet: www.worldbank.org

      Some rights reserved.

      1 2 3 4 17 16 15 14

      This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.

      Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.

      Rights and Permissions

      This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) http://creativecommons.org/licenses/by/3.0/IGO. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions:

      Attribution—Please cite the work as follows: Bussolo, Maurizio, and Luis F. Lopez-Calva. Shared Prosperity: Paving the Way in Europe and Central Asia. Washington, DC: World Bank. doi:10.1596/978-1-4648-0230-0. License: Creative Commons Attribution CC BY 3.0 IGO

      Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. The World Bank shall not be liable for any content or error in this translation.

      Adaptations—If you create an adaptation of this work, please add the following disclaimer along with the attribution: This is an adaptation of an original work by The World Bank. Responsibility for the views and opinions expressed in the adaptation rests solely with the author or authors of the adaptation and are not endorsed by The World Bank.

      Third-party content—The World Bank does not necessarily own each component of the content contained within the work. The World Bank therefore does not warrant that the use of any third-party-owned individual component or part contained in the work will not infringe on the rights of those third parties. The risk of claims resulting from such infringement rests solely with you. If you wish to reuse a component of the work, it is your responsibility to determine whether permission is needed for that reuse and to obtain permission from the copyright owner. Examples of components can include, but are not limited to, tables, figures, or images.

      All queries on rights and licenses should be addressed to the Publishing and Knowledge Division, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [email protected].

      ISBN (paper): 978-1-4648-0230-0

      ISBN (electronic): 978-1-4648-0267-6

      DOI: 10.1596/978-1-4648-0230-0

      Cover and interior design: Debra Naylor, Naylor Design, Inc.

      Library of Congress Cataloging-in-Publication data has been requested.

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