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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Health and Land Transport Agency (ATT) staff in Madagascar check passenger lists at Andohatapenaka Bus Station on April 9, 2020.

The Curse of Falling Expectations

When a society goes from broadly shared growth to a state of malaise or decline, the ensuing pain is not just economic but psychological. Now that tens of millions of people in developing countries are suffering precisely such a reversal of fortune, the political fallout is sure to be tumultuous.

An image of a Chinese city

Fiscal Policy and Income Distribution in China

Since China introduced far-reaching economic reforms in 1978, it has experienced rapid economic growth and social development that has significantly improved the overall well-being of the Chinese population and lifted an enormous number of people out of poverty. But at the same time, income inequality in China has increased dramatically over the past three decades, and there is a significant divide between urban and rural areas as well as between regions.