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Beyond Macroeconomic Stability

Structural Transformation and Inclusive Development

Edited by Iyanatul Islam and David Kucera

This volume explores the link between structural transformation and inclusive development by examining three thematic pillars:

• The limits of conventional macroeconomics

• The long-run agenda of structural transformation and the development of capabilities

• Inequality and its macroeconomic consequences

The book looks at trends in the functional distribution of income and explores their possible consequences by developing a two-country macroeconomic model for open economies. It also reinterprets social protection from the perspective of inclusive development and structural transformation. Through a combination of country-specific and global evidence as well as macroeconomic modeling and literature surveys, it seeks to answer the question of whether growing inequality in many countries combined with stagnant real incomes was one of the sources of the recent global crisis.

Contributors include Ishraq Ahmed (National University of Singapore), Fares Al-Hussami (OECD), Sarah Anwar (Diversity Group, Sweden), Christina Behrendt (ILO), Anis Chowdhury (UN Economic and Social Commission for Asia and the Pacific), Christoph Ernst (ILO), Rossana Galli (University of Lugano, University of Zürich), Massimiliano La Marca (ILO), Sangheon Lee (ILO), Irmgard Nübler (ILO), Raquel Ramos (Université Paris 13 Nord), Leanne Roncolato (American University), and Rathin Roy (Ministry of Finance, India).

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