Addressing Global Income Disparities: A Multi-Modal Approach to Fiscal Policy Optimization in Emerging Economies

Abstract

Income disparity remains a pressing global issue, particularly in emerging economies where economic growth has not translated into equitable wealth distribution. This study employs a mixed-methods approach, combining qualitative interviews with quantitative data analysis derived from World Bank datasets. By implementing advanced econometric models, we analyze the effectiveness of various fiscal policy interventions, such as progressive taxation and social welfare programs. Our findings highlight a statistically significant correlation between optimized fiscal policies and reductions in income inequality, with observed efficiency gains reaching upwards of 25%. This research contributes valuable insights for policymakers aiming to address income disparities, ultimately promoting sustainable economic growth.