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Rising to the challenge of inclusive growth and development

International Social Science Journal (Chinese Edition)

No.4, 2017

 

Rising to the challenge of inclusive growth and development (Abstract)

 

Richard Samans, Jennifer Blanke, Gemma Corrigan and Margareta Drzeniek Hanouz

 

This is the first part of the Inclusive and Development Report (2017) launched by the World Economic Forum (WEF). Over the past several years, a worldwide consensus has emerged on the need for a more inclusive growth and development model; however, this consensus is mainly directional. It remains more a discussion topic than an action agenda. The WEF’s report seeks to help countries and the wider international community practice inclusive growth and development by offering a new policy framework and corresponding set of policy and performance indicators for this purpose. The framework encompasses seven principal domains and 15 sub-domains which describe the spectrum of structural factors that particularly influence the breadth of social participation in the process and benefits of economic growth. It is argued that the societies that have had success in building a robust middle class and reducing poverty and social marginalization have tended to create effective economic institutions and policy incentives in many of these areas, while also pursuing sound macroeconomic policies and   efficiency-enhancing reforms over time.