Inclusive Growth And Economic Growth

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According to the IMF’s Anand, Mishra & Peiris (2013) , inclusive economic growth refers to both the pace and distribution of economic growth . The term “inclusive growth” is not limited to the scope of growth a country receives but rather also the rate at which it happens. It is most often expected that when the term “inclusive growth” is used, it includes both the marginalized and higher income groups of a country. Therefore, for the purpose of this paper, we will define “inclusive economic growth” as the economic growth of a country to be experienced by both the low income and high income group of a country.
The Philippines is one of the leaders in ASEAN in terms of GDP growth ("East Asia and Pacific", 2016). However, most people express dissatisfaction about the growth not being felt among the lower and middle wage income groups of Filipino society. For economic growth to be truly inclusive, living conditions must be improved for both high income and low income groups of society. Some of the 15 areas mentioned in The Inclusive Growth and Development Report 2015 of the World Economic Forum (WEF) that are important in helping inclusive growth are: education, productivity and corresponding salary increase and incentives, social protection, reliable infrastructures, and efficiency in the financial sector’s intermediary with real investments.
There is a commonality in what institutions and analysts see as steps towards inclusive economic growth; various researchers provide

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