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Regular version of the site

Book chapter

Economic Transformation and Social Inequality in Eurasian Countries

Grigoryev Leonid, Kulpina Vera.

Patterns of income distribution and social structure place certain constrains on any  country’s economic development. Economic growth also causes changes in social structures  but rather differently depending on a country’s level of development. On the one hand,  Eurasia includes industrially developed countries with a comparatively high-income level and  mature civil society but currently experiencing very slow recovering from the economic crisis.  On the other hand, there are emerging Asian countries with a considerable share of poor  people and lack of democracy but showing fast economic growth and rising global influence.  In terms of growth and inequality Eurasian countries are as different as all the countries  together. This paper compares correlations between economic progress and inequality of 55  countries in 1992-2010 both in general and by income groups. It shows that as a part of  middle (and low) income trap social inequality changes go quite slow for fast growing  countries. Consequently, success of development and achieving social stability will need  comprehensive economic policy, not just GDP growth.

In book

Edited by: E. Demir. Istanbul: EBES, 2015.