Inclusive Growth: Measurement and Determinants

IMF Working Papers, May 30, 2013

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Inclusive Growth: Measurement and Determinants

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Bibliographic details

• Authors: Rahul Anand, Saurabh Mishra, Shanaka J Peiris
• Published: May 30, 2013
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781484323212.001

Overview and methodology

• Authors: Rahul Anand, Saurabh Mishra, Shanaka J Peiris
• Date: May 30, 2013
• Series: Working Paper No. 2013/135
• Issue: 135
• Pages: 27
• DOI: https://doi.org/10.5089/9781484323212.001
• ISBN: 9781484323212
• ISSN: 1018-5941
• Core approach:
  • Estimate a unified measure of inclusive growth for emerging markets by integrating economic growth performance and income distribution outcomes using data over three decades.
  • Calibrate country distributions by combining PPP GDP per capita and income distribution from survey data.
  • Apply the microeconomic concept of a social mobility function at the macroeconomic level to measure inclusive growth closer to the absolute definition of pro-poor growth.
  • Use a dynamic measure that accounts for the pace of growth to distinguish cases where per capita income growth was the same for the top and the bottom of the income pyramid.

Key findings

• The unified inclusive-growth measure permits focus on inequality and on differences in growth pace across income groups.
• Foundations for achieving inclusive growth identified:
  • Macroeconomic stability
  • Human capital
  • Structural changes
• Role of globalization:
  • Foreign direct investment fosters greater inclusiveness.
  • Trade openness fosters greater inclusiveness.
• Factors with no discernible effect on inclusiveness:
  • Financial deepening
  • Technological change

Subject coverage and keywords

• Subject areas: Economic growth, Financial institutions, Inclusive growth, Income distribution, Income inequality, National accounts, Personal income, Stocks
• Keywords: distribution, distribution outcome, economic growth, equity, equity index of income, Global, inclusive growth, income, income contraction, Income distribution, income growth, Income inequality, inequality, low income country, Middle East and Central Asia, Personal income, pro-poor growth, Stocks, value chain, Western Hemisphere, WP

Source: Inclusive Growth: Measurement and Determinants, IMF Working Papers 2013/135 (May 30, 2013).

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