Inclusive Growth: Measurement and Determinants
By R. Anand, Saurabh Mishra, S. Peiris. Social Science Research Network, 2013
269 citations recorded by the source corpus.
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.
Subfields: Economics and Econometrics, Information Systems, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/0315fb9864637c589e97c083b36989a24759544b
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Citations in the corpus
- Inclusive growth, human capital development and natural resource rent in SSA (2018, methodology): “Also, Anand et al. (2013) argued that the Arab Spring, the growing divide between Main Street and Wall Street in advanced economies, and the ‘‘three speed’’ world economy have placed inclusive growth at the forefront of policy debates.”