This paper examines policy implications of adopting inclusive growth as the overarching goal for developing Asia.
This paper defines what inclusive growth is and proposes a new methodology to capture inclusive growth. It applies the proposed methodology to the Philippines using its micro household survey, the Annual Poverty Indicator Survey.
Inclusive growth is now at the heart of mainstream development economics. This paper explains why developing Asia needs to move its development focus from poverty reduction to inclusive growth. This policy brief examines the implications of such a shift for public policy.
The People's Republic of China (PRC) has achieved impressive economic growth over the past two decades. In recent years, India has also shown promising signs of economic acceleration. Despite this, both countries still remain poor. A critical question that continues to face them is whether they can sustain strong economic growth. This brief aims to shed light on this question by comparing and contrasting their economic performance and policies.
Sustaining and accelerating the course of poverty reduction requires stepping up efforts for inclusive growth. Past experience in developing Asia demonstrates the critical significance of inclusive growth for poverty reduction. By improving the access of the poor to markets, increasing productivity and creating further opportunities for employment, inclusive growth mainstreams the poor to actively participate in the growth process, thereby contributing to raising their standards of living.
With a time horizon that is medium to long-term, this brief provides broad directions for policy and institutional reforms that would help revive growth in the ADEs. Given the pronounced diversity of the ADEs, specific directions are called for in each economy. However, it is not possible to address all the specificities here. The brief identifies emerging domestic constraints, examines the challenges and opportunities resulting from globalization, sketches a broad reform agenda and concludes with a sequencing of the reforms in the different subregions.
Rural infrastructure investments can lead to higher farm and nonfarm productivity, employment and income opportunities, and increased availability of wage goods, thereby reducing poverty by raising mean income and consumption.
Power systems consist of integrated networks of generation, main transmission and local distribution components. The intra and intertemporal dependence of these components make it desirable to take a systems approach to investment planning which should aim at maximization of net benefits. The process of maximization of net benefits for the power system as a whole can be viewed as consisting of four modules.
The paper deals with some conceptual and analytical issues in the area of international development financing. The major lending modalities of the multilateral financial institutions (MFIs) include project and adjustment lending. While project lending could be viewed as the modality for augmenting investing, the role of adjustment lending would be to facilitate adjustment of policies and institutions in developing countries.
Augmenting capital accumulation was considered to be the central challenge for achieving growth in the developing countries in the 1960s and 1970s. Project investment constituted the cutting edge of development. To facilitate rational decision making for public sector investment, a vast literature on project evaluation emerged. Shadow prices defined as the ultimate effect on society's welfare resulting from a change in the net supply of an input or output featured prominently in this literature.