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The potential role of social protection in the development process has received heightened recognition in recent years, yet making a strong investment case for social protection remains particularly challenging in many emerging and developing countries. This report challenges us to think deeply about the economic rationale for social protection investments through an inclusive development lens. It helps us understand the links between social protection, growth and inequality; how to measure those links empirically; social protection’s impact on inclusive growth; and how to build a more solid economic case for greater social protection investments.
While Asia’s growth record in recent decades is remarkable, it has been marred by rising inequalities. This book looks at recent trends of income and non-income inequalities in developing Asian countries, discusses their underlying driving forces, and examines key policy issues that need to be addressed to ensure that the benefits of growth will be more equitably shared in Asia. The book also presents a set of country studies that provide rich information on growth, poverty and inequality dynamics and the policy challenges that arise in marching toward inclusive growth.
Proposing issues that hinder equal development, Inclusive Developments through Socio-economic Indicators: New Theoretical and Empirical Insights focuses upon the roles of different socio-economic indicators in explaining the convergence or inclusiveness of income across groups of varying wealth as well as within larger economies
'Inclusive Growth, Full Employment, and Structural Change: Implications and Policies for Developing Asia' discusses policies to achieve inclusive growth in developing Asia, including agriculture, investment, certain state interventions, monetary, fiscal, and the role of the state as employer of last resort. Felipe argues that full employment of the labor force is the key to delivering inclusive growth. Full employment is the most direct way to improve the well-being of the people, especially of the most disadvantaged. Since unemployment and underemployment are pervasive in many parts of the region, Asian leaders must commit to the goal of full employment. The book also analyzes the region's phenomenal growth in recent decades in terms of structural transformation. Accelerating it is vital for the continued growth of developing Asia. But efforts to achieve full employment might be held back given that structural transformation requires massive labor shifts across sectors, and these are difficult to coordinate. Moreover, the goal of full employment was abandoned in the 1970s, and governments and central banks have since concentrated on keeping inflation low.
The recent global financial crisis has increased the scope of poverty and inequality. The gap between the richest and poorest nations has become wider. National income inequality has also been on the rise. The prospect of a shift in designing and implementing development and welfare policies is strong in this new environment. The neoliberal policies of the Washington Consensus are giving way to development models which look to a more active government role in both economic and social policies. Meanwhile, in the parallel universe of welfare policy a fundamental realignment is already taking place. Faced with the current economic and social challenges, policy communities have turned to a variety of instruments to ensure that growth and social inclusion go together. This book offers a systematic analysis of the growing convergence on these matters in the development and welfare state literatures, utilizing the experiences of a myriad of jurisdictions around the world. Drawing upon the expertise of leading international policymakers, practitioners, and academics in the field, this book critiques the theoretical underpinning of growth and development, examine welfare state perspectives on inclusive growth and social/economic development, and presents lessons learned and best/worst practices from the experiences of developing and developed nations.
The book outlines a journey from enabling models of government and business to strategies for creating both financial and social inclusion and entrepreneurism as mechanisms for sustainable and inclusive growth.
This book addresses topics and issues of high relevance to the widely shared desire to promote inclusive growth, sustainability, and innovation within a context of global governance. It is based on the XXXth Villa Mondragone International Economic Seminar, where leading experts met to discuss the latest research and thinking on different aspects of globalization, trade, inequalities, growth imbalances, green technologies, the labor market, and financial systems. The aim is to stimulate new responses and possible solutions to a variety of well-recognized problems, including low growth in real wages, stagnating productivity, and growing disparities in income. Some of these problems are especially evident in Europe, where austerity policies have failed to deliver adequate growth and investment. However, while a number of the contributions focus on aspects of particular importance to Europe, others look further afield, for example to the scope for innovation in Africa and to experiences with quantitative easing in Japan. The book will be of wide interest to academics, researchers, policy makers, and practitioners.
Focusing on the Asia-Pacific region, which in recent years has been the engine of global economic growth , this volume surveys trends and prospects in technical and vocational education and training (TVET) with particular reference to achieving inclusive growth and the greening of economies. Underlying the increasing pressure for new models of TVET provision is the rapid pace of technological change, demand for a work force which is highly responsive to evolving needs and a transforming market place that calls for higher order skills and lifelong learning. The book proposes a re-engineered, modernized TVET system that fosters an innovative approach which enhances the employability of workers as well as the sustainability of their livelihoods. The book includes contributions from leading policy makers, researchers, and practitioners, including those in the private sector in analyzing and forecasting the most urgent priorities in skills development. The book argues for creative approaches to TVET design and delivery particularly with a view to improve job prospects , and meeting the goals of inclusion, sustainable development and social cohesion. Addressing issues such as the chronic mismatches between skills acquired and actual skills required in the work place, the volume proposes diversified approaches towards workforce development and partnerships with the private sector to improve the quality and relevance of skills development . The new imperatives created by ‘greening’ economies and responses required in skills development and training are addressed. Developing TVET is a high priority for governments in the Asia Pacific region as they seek to achieve long-term sustainable growth since the .continued success of their economic destinies depend on it. The volume also includes an emerging framework for skills development for inclusive and sustainable growth in the Asia and Pacific region.
We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. Country distributions are calibrated by combining PPP GDP per capita and income distribution from survey data. We apply the microeconomic concept of a social mobility function at the macroeconomic level to measure inclusive growth that is closer to the absolute definition of pro-poor growth. This dynamic measure permits us to focus on inequality as well as distinguish between countries where per capita income growth was the same for the top and the bottom of the income pyramid, by accounting for the pace of growth. Our results indicate that macroeconomic stability, human capital, and structural changes are foundations for achieving inclusive growth. The role of globalization could also be positive with foreign direct investment and trade openess fostering greater inclusiveness, while financial deepening and technological change have no discernible effect.
Social economy -- also known as "non-profit" or "third sector" -- organizations have grown in number and relevance, contributing to employment, social inclusion, democratic participation and community building. Much remains to be done, however, to create the necessary enabling environment to support their creation and development and to mainstream the sector in economic and social policies. This publication offers new insights into the economic theory of social economy organizations, their role in an evolving political and economic context, and the links to local development and the empowerment of users. Building on theoretical and empirical developments in OECD member countries, the publication also presents the main challenges for the social economy in Central East and South East Europe. Recommendations for action are included.--Publisher's description.