Macroeconomic Policies and Social Inclusion in the Developing World

Many in the developing world face social exclusion and discrimination, preventing them from actively participating in society itself. Sound macroeconomic policies with a focus on stabilizing the price level and social outcomes can help to achieve social justice for marginalized people. This study e...

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Autores principales:	Zakia Batool, Arshad Ali Bhatti
Formato:	article
Lenguaje:	EN
Publicado:	IDEA PUBLISHERS 2020
Materias:	Monetary Policy Fiscal Policy Social Inclusion Panel data Government Spending Tax Revenue Social Sciences H Political science J
Acceso en línea:	https://doaj.org/article/10424cc018634794827d5a3c8e6a5da1
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spelling	oai:doaj.org-article:10424cc018634794827d5a3c8e6a5da12021-11-04T15:46:12ZMacroeconomic Policies and Social Inclusion in the Developing World10.47264/idea.lassij/4.2.102664-8148https://doaj.org/article/10424cc018634794827d5a3c8e6a5da12020-12-01T00:00:00Zhttps://ideapublishers.org/index.php/lassij/article/view/226https://doaj.org/toc/2664-8148 Many in the developing world face social exclusion and discrimination, preventing them from actively participating in society itself. Sound macroeconomic policies with a focus on stabilizing the price level and social outcomes can help to achieve social justice for marginalized people. This study empirically examines the impact of macroeconomic policies on social inclusion, considering specifically the coordination among them in promoting that social inclusion. It deals primarily with pure non-income dimensions of social inclusion such as education, and health, etc. Using annual panel data of 51 developing countries for the period 1995-2017 this study employs state-of-the-art panel data estimation methods – pooled estimation, fixed-effect, and random-effect models. To check for robustness and to handle the problem of endogeneity, the 2SLS technique has also been used. This study argues that a well-designed macroeconomic policy framework can do much more than just achieve economic goals. Results suggest that fiscal and monetary policy, through resource mobilization, can play a significant and positive role in promoting social inclusion. However, these fiscal and monetary policy actions are not independent; thus, a policy mix is required to achieve the target of an inclusive society. Zakia BatoolArshad Ali BhattiIDEA PUBLISHERSarticleMonetary PolicyFiscal PolicySocial InclusionPanel dataGovernment SpendingTax RevenueSocial SciencesHPolitical scienceJENLiberal Arts and Social Sciences International Journal, Vol 4, Iss 2 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	Monetary Policy Fiscal Policy Social Inclusion Panel data Government Spending Tax Revenue Social Sciences H Political science J
spellingShingle	Monetary Policy Fiscal Policy Social Inclusion Panel data Government Spending Tax Revenue Social Sciences H Political science J Zakia Batool Arshad Ali Bhatti Macroeconomic Policies and Social Inclusion in the Developing World
description	Many in the developing world face social exclusion and discrimination, preventing them from actively participating in society itself. Sound macroeconomic policies with a focus on stabilizing the price level and social outcomes can help to achieve social justice for marginalized people. This study empirically examines the impact of macroeconomic policies on social inclusion, considering specifically the coordination among them in promoting that social inclusion. It deals primarily with pure non-income dimensions of social inclusion such as education, and health, etc. Using annual panel data of 51 developing countries for the period 1995-2017 this study employs state-of-the-art panel data estimation methods – pooled estimation, fixed-effect, and random-effect models. To check for robustness and to handle the problem of endogeneity, the 2SLS technique has also been used. This study argues that a well-designed macroeconomic policy framework can do much more than just achieve economic goals. Results suggest that fiscal and monetary policy, through resource mobilization, can play a significant and positive role in promoting social inclusion. However, these fiscal and monetary policy actions are not independent; thus, a policy mix is required to achieve the target of an inclusive society.
format	article
author	Zakia Batool Arshad Ali Bhatti
author_facet	Zakia Batool Arshad Ali Bhatti
author_sort	Zakia Batool
title	Macroeconomic Policies and Social Inclusion in the Developing World
title_short	Macroeconomic Policies and Social Inclusion in the Developing World
title_full	Macroeconomic Policies and Social Inclusion in the Developing World
title_fullStr	Macroeconomic Policies and Social Inclusion in the Developing World
title_full_unstemmed	Macroeconomic Policies and Social Inclusion in the Developing World
title_sort	macroeconomic policies and social inclusion in the developing world
publisher	IDEA PUBLISHERS
publishDate	2020
url	https://doaj.org/article/10424cc018634794827d5a3c8e6a5da1
work_keys_str_mv	AT zakiabatool macroeconomicpoliciesandsocialinclusioninthedevelopingworld AT arshadalibhatti macroeconomicpoliciesandsocialinclusioninthedevelopingworld
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Macroeconomic Policies and Social Inclusion in the Developing World

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