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 the recent years by ADB's Economics and Research Department, the East Asia Regional Department and the Operations Evaluation Department, and other sources. One of the findings is that while there is no agreed and common definition of inclusive growth or inclusive development, the term is understood to refer to ‘growth coupled with equal opportunities’, and consisting of 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: (1) promoting efficient and sustainable economic growth, (2) ensuring a level political playing field and (3) strengthening capacities and providing for social safety nets.

Keywords:

• inclusive development
• rural infrastructure
• development assistance
• Asian Development Bank

JEL classifications:

• O10
• O15
• O18
• O19
• O53

The views expressed in this paper are of the authors and do not necessarily reflect the views of the Asian Development Bank.

Notes

1. These may include papers presented in ADB fora or requested by ADB but which do not necessarily reflect the views and policies of ADB or its Board of Governors.

2. The OED study noted that various policy and strategic changes were made to accommodate a focus on inclusive social development (e.g., Social Protection Strategy, Gender Action Plan, Education Policy and strategic response to HIV/AIDS. However, the ADB operational procedures that followed did not emphasize specific areas of social development for ADB. There was also an apparent lack of direction in the CSPs to emphasize inclusive social development.

3. The rating was on the high side as there were gains observed in terms of ADB's project support, advisory services and policy dialogue at the state level.

4. The panel consisted of six persons of internationally recognized eminence and stature, all of whom were invited to serve in their individual capacities.