Page 41 - Banking Finance June 2019

ARTICLE

INCLUSIVE

GROWTH AND

ASIA - AN

ANALYSIS

to assets and markets such as land, labour and credit and
Abstract
by providing social protection for major households risks.
Objective of the paper is to discuss the inclusive growth
experience of Asia along wih the inequality drivers and Asia-Pacific has been the fastest growting region in the
the key elements of the strategy to ensure the high rate world over the last few decades, and has been at the
of inclusive growth in the days to come for the forefront of the process of globalisation. The basic question
betterment of Asian Countries analytically. is that this growth has been inclusive in character and has
conferred benefits to all sections of society, especially to
Introduction those at the lower end of the income scale.
Inclusive growth, which has become the buzz-word in recent
Asia-Pacific has been the most economically dynamic region
past, does mean over all grwoth and development of
of the world. East Asia and Pacific, in particular, has
economy by governments adapting the reforms to empower
experienced very rapid growth of over 7.5 per cent per
the poor and marginalised to make the most of emerging
annum since the early 70s (see table I). Initially, the flight
livelihood opportunities by investing in their health, nutrition,
of high growth was established by countries like Malaysia,
schooling, facilitating self help efforts, promoting fair access
Thailand, Singapore, Republic of Korea, Hong-Kong and
Taiwan, which are referred to as "East Asian Tigers" who
opened-up their economies early and successed in achieving
About the author
export-led grwoth.
Dr. G. K. Kumar
Consequently, within one generation, countries like the
Asst. Prof. of Commerce and Business Management,
Republic of Korea, Singapore, and Hong-Kong have joined
C.K.M. College, Warangal,
the ranks of delveloped countires and Malaysia is on the
Telangana. India
verge of getting to this status.
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