Inclusive Growth=Stability
IMF Blog, January 12, 2015
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Bibliographic details
- Published: January 12, 2015
Core thesis
- "In the end, the case for job rich, inclusive growth is not economic, it’s political, according to Nobel prize-winning economist Michael Spence."
- Spence: "The stability of economies and their ability to function depends on inclusiveness. If people are excluded they will object."
Role of inclusive growth for global stability
- "As countries around the world continue to pull themselves up and out of the Great Recession, inclusive growth is a key factor to stabilize the global economy."
- Emphasis on job-rich growth as central to political legitimacy and economic stability.
Public investment and policy directions
- Spence discusses "the kinds of public sector investments, like infrastructure, which can help a country’s economy grow."
- Country examples cited:
- "China has been very good at this"
- "India’s had its ups and downs"
Media and access
- Podcast interview with Michael Spence available on the IMF site.
- Embedded SoundCloud track referenced: "https://api.soundcloud.com/tracks/185108659" (embed parameters present in source).
IMF blog — Inclusive Growth=Stability, January 12, 2015