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Abstract
Shared prosperity is a common phrase in current development policy discourse. Its most widely used operational definitionthe growth rate in the average income of the poorest 40% of a countrys populationis a truncated measure of change in social welfare. A related concept, the shared prosperity premiumthe difference between the growth rate of the mean for the bottom 40% and the growth rate in the overall meanis similarly analogous to a measure of change in inequality. This article reviews the relationship between these concepts and the more established ideas of social welfare, poverty, inequality, and mobility.</p>Household survey data can be used to shed light on recent progress in terms of this indicator globally. During 20082013, mean incomes for the poorest 40% rose in 60 of the 83 countries for which we have data. In 49 of them, accounting for 65% of the sampled population, it rose <italic>faster</italic> than overall average incomes, thus narrowing the income gap.
In the policy space, there are examples both of pre-distribution policies (which promote human capital investment among the poor) and re-distribution policies (such as targeted safety nets), which when well-designed have a sound empirical track record of both raising productivity and improving well-being among the poor.
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Published on 01/01/2018
Volume 2018, 2018
DOI: 10.1093/acrefore/9780190625979.013.445
Licence: CC BY-NC-SA license
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