ROUNDTABLE ON “GROWTH, POVERTY REDUCTION AND EQUITY – EMERGING PARADIGM”
Sustained economic growth is an important factor in reducing poverty. However, the linkages between growth, poverty and equity are complex. The experiences in sustained economic growth and poverty reduction have varied considerably among countries. T he impact of growth on poverty depends on socio-economic conditions, including the initial extent of income inequality. Against this backdrop, this roundtable focused on national efforts in promoting pro-poor sustained economic growth, by addressing the linkage between growth, poverty and equity. Questions addressed included: How could this linkage be made stronger and more stable? What are the difficulties and obstacles in ensuring the linkage? The report of the Secretary-General makes a case for a broad-based approach for macroeconomic policies. Such an approach calls for a broader, development approach, combining short-term counter-cyclical policies with long-term development policies. The roundtable discussed: Could such an approach be applied by all countries? What will be necessary for countries to follow this approach? Are there other approaches?
ROUNDTABLE ON “COHERENCE AND COORDINATION OF MACROECONOMIC POLICIES – GLOBAL AND REGONAL FRAMEWORKS”
With increased global economic and financial integration and interdependence, external conditions have a direct bearing on the effectiveness and policy space available for the design of each country's national development strategy. In addition to trade fluctuations, the volatility in financial flows has affected the experience of developing country economies greatly in recent years. The report of the Secretary-General highlights the need for international coordination of macroeconomic policies in order to reduce the volatility in the financial market so as to create more stable conditions for growth. The roundtable highlighted a complementary role that regional cooperation could play. Participants discussed. inter alia: What has been the experience? What efforts are being made and what else could be done? and What are the stumbling blocks in furthering efforts in this direction?