Социально-экономические факторы инклюзивного роста в странах Африки
Аннотация
The concept of inclusive growth is receiving significant attention and is a key aspect of economic development. Fostering inclusive growth involves a comprehensive approach to economic development, where the benefits of growth are shared equitably among all members of society. An ideal approach would involve broad-based economic growth that benefits a significant portion of the population, while also striving to reduce disparities and promote equal opportunities.
Additionally, it should prioritise the improvement of the welfare of those who are poor. Many parts of the world prioritise inclusive growth to eliminate poverty and income inequality, while also promoting sustainable development. This study is motivated by the enduring misalignment between the increase in economic growth and the decreasing level of inclusive growth in Africa, as indicated by income inequality and poverty over the years. This is consistent with the Sustainable Development Goals (SDGs) that seek to eliminate poverty and other forms of deprivation. More precisely, the objectives are as follows: Goal 1 aims to eradicate poverty, while Goal 10 focuses on the objective of reducing inequalities within and among countries. According to United Nation’s SDG report, COVID-19 has reversed more than four years of progress against poverty. In addition, the pandemic has caused the first increase in income inequality between countries in a generation, which is anticipated to reverse the decline in inequality since the global financial crisis of 2007–2009. More so, in a report by the World Economic Forum (WEF), countries such as Norway, Iceland, Luxembourg, and Switzerland have been identified as the leading countries in terms of its multidimensional inclusive
development indicators. In the same report, the Russian Federation holds the 19th position in the Inclusive Development Index (IDI) when considering emerging economies. Despite the consistent and prolonged expansion of the economy since the year 2000, there continues to be a significant level of income inequality. Nevertheless, Zimbabwe, Malawi, Lesotho, and Mozambique, which are developing countries, are clustered in the lowest positions on the list. The African region is predominantly comprised of the poorest performers. Africa has witnessed sustained growth in most of its regions; nevertheless, this has not resulted in substantial improvement of economic welfare for most of its population. Africa's poverty and inequality are characterised by exceptionally high rates, presenting a distinct narrative. Therefore, unregulated disparities in income can undermine a country's ability to maintain its competitive edge, leading to political and social turmoil. Moreover, the increase in inequality can diminish consumption levels, as the top-income group allocates a smaller proportion of their income compared to the bottom-income group due to their high marginal propensity to consume. Inequalities in
income may impede the ability of poor and vulnerable individuals to access opportunities that foster economic growth.
Additionally, it should prioritise the improvement of the welfare of those who are poor. Many parts of the world prioritise inclusive growth to eliminate poverty and income inequality, while also promoting sustainable development. This study is motivated by the enduring misalignment between the increase in economic growth and the decreasing level of inclusive growth in Africa, as indicated by income inequality and poverty over the years. This is consistent with the Sustainable Development Goals (SDGs) that seek to eliminate poverty and other forms of deprivation. More precisely, the objectives are as follows: Goal 1 aims to eradicate poverty, while Goal 10 focuses on the objective of reducing inequalities within and among countries. According to United Nation’s SDG report, COVID-19 has reversed more than four years of progress against poverty. In addition, the pandemic has caused the first increase in income inequality between countries in a generation, which is anticipated to reverse the decline in inequality since the global financial crisis of 2007–2009. More so, in a report by the World Economic Forum (WEF), countries such as Norway, Iceland, Luxembourg, and Switzerland have been identified as the leading countries in terms of its multidimensional inclusive
development indicators. In the same report, the Russian Federation holds the 19th position in the Inclusive Development Index (IDI) when considering emerging economies. Despite the consistent and prolonged expansion of the economy since the year 2000, there continues to be a significant level of income inequality. Nevertheless, Zimbabwe, Malawi, Lesotho, and Mozambique, which are developing countries, are clustered in the lowest positions on the list. The African region is predominantly comprised of the poorest performers. Africa has witnessed sustained growth in most of its regions; nevertheless, this has not resulted in substantial improvement of economic welfare for most of its population. Africa's poverty and inequality are characterised by exceptionally high rates, presenting a distinct narrative. Therefore, unregulated disparities in income can undermine a country's ability to maintain its competitive edge, leading to political and social turmoil. Moreover, the increase in inequality can diminish consumption levels, as the top-income group allocates a smaller proportion of their income compared to the bottom-income group due to their high marginal propensity to consume. Inequalities in
income may impede the ability of poor and vulnerable individuals to access opportunities that foster economic growth.