Although the developing world has achieved unprecedented economic growth rates over the past decade that have translated into a rapid decline in poverty, that growth has also come with rising inequality.
Inequality threatens social cohesion, limits social mobility and individual choice and reinforces factors such as inherited poverty or discrimination by gender, ethnicity and location, delegates heard last week at the 2nd OECD Development Center high-level meeting — part of Development Week 2014 hosted by the Organization for Economic Cooperation and Development.
So how can fast-growing developing economies close the inequality gap and ensure that economic growth is followed by structural transformation that not only reduces poverty but also improves access to opportunities, promotes mobility and enhances social capital?