Falling Inequality in Latin America
Policy Changes and Lessons
Series: WIDER Studies in Development Economics;
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Product details:
- Publisher OUP Oxford
- Date of Publication 16 January 2014
- ISBN 9780198701804
- Binding Hardback
- No. of pages398 pages
- Size 241x162x27 mm
- Weight 762 g
- Language English
- Illustrations 62 Figures and 90 Tables 0
Categories
Short description:
This volume documents and explains the reduction of income inequality that has taken place in the majority of Latin American countries over the last decade.
MoreLong description:
The volume aims to document and explain the sizeable decline of income inequality that has taken place in Latin America during the 2000s. It does so through an exploration of inequality changes in six representative countries, and ten policy chapters dealing with macroeconomics, foreign trade, taxation, labour market, human capital formation, and social assistance, which point to the emergence of a 'new policy model'. The volume addresses a major issue in economic development with profound implications for many developing regions and those OECD countries mired in a long-lasting financial crisis and economic stagnation.
For at least the last quarter of the twentieth century, Latin America suffered from low growth, rising inequality, and frequent financial crises. However, since the turn of the century, growth accelerated, inequality declined, poverty fell, and macroeconomic stability improved, all this in parallel to the spread of centre-left political regimes in three quarters of the region. This inequality decline has taken many by surprise as, for a long time, the region has been a symbol of a deeply entrenched unequal distribution of assets, incomes, and opportunities, limited or no state redistribution, and a deeply embedded authoritarianism enforcing an unjust status quo.
The recent Latin American experience is particularly valuable as inequality was reduced under open economy conditions and in a period of intensifying global integration, which have often been considered as a source of rising inequality. In this sense, however imperfect, the recent Latin American experience may be of interest to countries completing their transition to the market and liberal democracy (as in the former socialist countries of Europe), facing a political transition (as those affected by the Arab Spring, Myanmar and countries in sub-Saharan Africa), or recording rises in inequality and social tensions in spite of rapid economic growth (as in China and India).
Until recently there was not much agreement on the drivers of the inequality decline in the region, which was attributed to changes in the supply/demand of skilled workers, improvements in terms of trade, the spread of social assistance schemes, or 'luck'. In this respect, the volume offers the first scholarly and systematic exploration of this unexpected change. As income inequality has been rising and is currently rising in many parts of the world, a good understanding of the Latin American experience over the 2000s is a topic that will inform and generate a lot of attention.
Table of Contents:
Part I: Inequality Changes and the Surfacing of New Policy Approaches
Recent Distributive Changes in Latin America: An Overview
Inequality Trends and their Determinants: Latin America over 1990-2010
The Politics of Inequality and Redistribution in Latin America's Post-Adjustment Era
Part II: Recent Inequality Changes in Six Representative Latin American Countries
Redistribution without Structural Change in Ecuador: Rising and Falling Income Inequality in the 1990s and 2000s
Policy Regimes, Inequality, Poverty and Growth: The Chilean Experience, 1973-2010
Uruguay's Income Inequality and Political Regimes over 1981-2010
The Rise and Fall of Income Inequality in Mexico, 1989-2010
Social Policies or Private Solidarity? The Equalizing Role of Migration and Remittances in El Salvador
The Dynamics of Inequality Change in a Highly Dualistic Economy
Part III: Main Policy Changes and Inequality during the Last Decade
Macroeconomic Policies, Growth, Employment, Poverty, and Inequality in Latin America
Trade and Income Distribution in Latin America: Is There Anything New to Say?
Changes in Labour Market Conditions and Policies and their Impact on Wage Inequality during the Last Decade
What Can Latin America Learn from China's Labour Market Reforms?
Tax Policy and Income Distribution during the Last Decade
Inequality in Education: Evidence for Latin America
On the Distributional Implications of Social Protection Reforms in Latin America
