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Inclusive growth and sustainable development : What, why, and how

Related Document
Frame of Image and North Africa (MENA) – Why hasn’t growth been more inclusive in MENA? – What can be done to increase prospects for IG in MENA?
• Things to keep in mind when crafting IG strategies
Defining Defining IG
What is Inclusive Growth (IG)?
• IG is high, sustained economic growth that is inclusive of the large part of a country’s labor force • Rapid pace of growth is necessary for substantial poverty reduction and income growth • But for this growth to be sustainable in the long run, it should be:
– broad-based across sectors, and – inclusive of the large part of the country’s labor force, where inclusive inclusiveness refers to equality of opportunity in terms of access to markets, resources, and unbiased regulatory environment for businesses and individuals.
Why is IG important?
• IG enables sizable increases in income and living standards of the majority of the population in a country • IG is important for political stability
• Part of the social welfare function – people care about inclusion • Systematic inequality of opportunity is “toxic” as it can derail the growth process through political channels or conflict (e.g. examples from MENA)
What factors matter for IG?
• It ’s a long term concept • Productive employment matters • It is not only about macroeconomics; understanding the microeconomic picture matters • Absolute poverty reduction vs. relative poverty reduction (inequality considerations) • Importance of labor demand and supply factors
IG takes a long term perspective


Full Text
Title Inclusive growth and sustainable development
Similar Titles
Sub Title

What, why, and how

Project Category Capacity Building Workshops
Material Type Proceedings
Author(English)

Ianchovichina, Elena

Publisher

Seoul:

Date 2014-04
Event

Frontiers in Development Policy

Project Capacity Building Workshops
Pages 54
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Economy < Financial Policy
Economy < Trade
Government and Law < Governance
Holding KDI School of PUblic Policy and Management
Program Type Conference