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The Idea of Inclusive Growth and Development Policy:

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  • Naqvi, Syed Nawab Haider

Abstract

The evolution of development policy over time can be characterized as a faltering pursuit of inclusive growth: namely, an integrated program of achieving highest possible rate of growth of the real GDP that doubles per capita income within a short period of time, with an eye on distributive justice and an undivided focus on reduction in poverty. There is a link that ties these apparently disparate policy objectives; but these links need to be strengthened by deliberate government policy to make them fully functional.2 It is only by achieving these connected objectives simultaneously or in quick succession that efforts to bring prosperity to humanity condemned perpetually to a life of drudgery and poverty can be crowned with suc-cess.3 The greatest minds in economics from Physiocrats to modern times have addressed this problem. Yet it remains an unfinished agenda of human existence - equivalent to the mathematical problem of “squaring the circle†. It is, therefore, apt that the success of a set of development policies is judged by reference to the fulfilment or non-fulfilment of this universally valid amorphous objective -it is universally valid because it is a relevant reckoner regardless of state of development of a society. However, a successful pursuit of this agenda is a non-trivial exercise; but it is by no means impossible.

Suggested Citation

  • Naqvi, Syed Nawab Haider, 2012. "The Idea of Inclusive Growth and Development Policy:," PSSP working papers 3, International Food Policy Research Institute (IFPRI).
  • Handle: RePEc:fpr:psspwp:3
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    References listed on IDEAS

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    1. Bhagwati, Jagdish N, 1982. "Directly Unproductive, Profit-seeking (DUP) Activities," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 988-1002, October.
    2. Deepak Lal, 1993. "Poverty and Development," UCLA Economics Working Papers 707, UCLA Department of Economics.
    3. Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
    4. Naqvi, Syed Nawab Haider, 2010. "Evolution of Development Policy: A Reinterpretation," OUP Catalogue, Oxford University Press, number 9780195477733.
    5. Syed Nawab Haider Naqvi, 1967. "Protection and Economic Development," PIDE-Working Papers 1967:061, Pakistan Institute of Development Economics.
    6. Naqvi, Syed Nawab Haider, 1995. "The nature of economic development," World Development, Elsevier, vol. 23(4), pages 543-556, April.
    7. Reynolds, Lloyd G, 1983. "The Spread of Economic Growth to the Third World: 1850-1980," Journal of Economic Literature, American Economic Association, vol. 21(3), pages 941-980, September.
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