Measuring and Monitoring Inclusive Growth: Multiple Definitions, Open Questions, and Some Constructive Proposals

Abstract

Inclusive growth has become a strategic pillar for guiding the activities of the Asian Development Bank in its operational strategy. At the same time, there exists no clear definition or indicator to monitor progress in inclusive growth at the country, project, or program level. This paper reviews existing definitions of inclusive growth and proposes an approach to defining and measuring inclusive growth as non-discriminatory and disadvantage-reducing growth. It proposes a monitoring approach at the country and project level and suggests that this might be a way forward to operationalize inclusive growth.