Inclusive Growth and Inclusive Development: A Review and Synthesis of Asian Development Bank Literature

Abstract

The Asian Development Bank (ADB) has relatively few but well-founded and relevant studies, reports, and publications on inclusive growth, inclusive development, or inclusive social development. This paper seeks to summarize the knowledge products obtained from existing ADB studies, statements, and initiatives. It draws from the research and analytic work undertaken in recent years by ADB’s Economics and Research Department (ERD), the East Asia Department (EARD), and the Independent Evaluation Department (IED); and other sources. Among the findings is that, while there is no agreed- upon and common definition of inclusive growth or inclusive development, the term is understood to refer to “growth coupled with equal opportunities,” and has economic, social, and institutional dimensions. Among the major recommendations of the ADB literature are that efforts to achieve inclusive growth and inclusive development should involve a combination of mutually reinforcing measures including (i) promoting efficient and sustainable economic growth, (ii) ensuring a level political playing field, (iii) strengthening capacities, and (iv) providing for social safety nets.