by: Asian Development Bank (ADB)
Key Indicators for Asia and the Pacific 2011
The Asia and Pacific region has achieved high economic growth over the past two decades, which has substantially reduced poverty. Despite this growth, many countries in the region experience widening disparities in their income and nonincome outcomes, between the rich and the poor, and the disadvantaged sections of the population. Growing and continued disparities can pose a threat to a high, efficient, and sustained growth. Therefore, inclusive growth is ncreasingly becoming a development agenda nationally and internationally.
The Asian Development Bank’s (ADB’s) Strategy 2020, which is its long-term strategic framework, has adopted inclusive economic growth as one of the strategic agendas to achieve its vision of an Asia and Pacific region free from poverty. Inclusive growth in ADB’s Strategy 2020 is about economic growth with equality of opportunity. High, efficient, and sustained growth; social inclusion to ensure equal access to opportunities; and social safety nets to protect the most vulnerable and deprived are the three critical policy pillars supported by good governance and institutions for an inclusive growth strategy that aims at high and sustained growth while ensuring that all members of the society benefit from growth.
This report is a special supplement to the Key Indicators for Asia and the Pacific 2011. It presents a framework of inclusive growth indicators (FIGI) and proposes a set of 35 indicators of inclusive growth. The FIGI was conceptualized with the three policy pillars and good governance and institutions as the guiding framework. Development of the framework is part of ADB’s efforts to promote further research and measurement to operationalize inclusive growth.