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Inclusive Growth, Full Employment, and Structural Change

Inclusive Growth, Full Employment, and Structural Change

Implications and Policies for Developing Asia

By Jesus Felipe

'Inclusive Growth, Full Employment, and Structural Change: Implications and Policies for Developing Asia' discusses policies to achieve inclusive growth in developing Asia, including those relating to agriculture, investment, certain state interventions, monetary,  fiscal, and the role of the state as employer of last resort.

Paperback, 368 Pages

ISBN:9780857285720

December 2012

£25.00, $40.00

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  • About This Book
  • Reviews
  • Author Information
  • Series
  • Table of Contents
  • Recently Viewed Titles

About This Book

'Inclusive Growth, Full Employment, and Structural Change: Implications and Policies for Developing Asia' discusses policies to achieve inclusive growth in developing Asia, including agriculture, investment, certain state interventions, monetary, fiscal, and the role of the state as employer of last resort.

Felipe argues that full employment of the labor force is the key to delivering inclusive growth. Full employment is the most direct way to improve the well-being of the people, especially of the most disadvantaged. Since unemployment and underemployment are pervasive in many parts of the region, Asian leaders must commit to the goal of full employment. The book also analyzes the region's phenomenal growth in recent decades in terms of structural transformation. Accelerating it is vital for the continued growth of developing Asia. But efforts to achieve full employment might be held back given that structural transformation requires massive labor shifts across sectors, and these are difficult to coordinate. Moreover, the goal of full employment was abandoned in the 1970s, and governments and central banks have since concentrated on keeping inflation low.

Reviews

'This book is a very important piece of work. Development economists as well as a wider audience with interest in development issues will benefit from it.' —Santonu Basu, Queen Mary, University of London

Author Information

Jesus Felipe is Principal Economist with the Central and West Asia Department of the Asian Development Bank, Manila, Philippines. His books include 'Labor Markets in Asia: Issues and Perspectives' (London, 2006).

Series

The Anthem-Asian Development Bank Series

Table of Contents

Illustrations; Abbreviations; Foreword by William Mitchell; Preface and Acknowledgements; Executive Summary; What Is Inclusive Growth?; What Is the Main Constraint that Developing Countries Face?; Why Full Employment and Who Should Be Responsible for Trying to Achieve It?; Why Is Growth Unstable?; What Is the Role of Agriculture in the Process of Structural Change and in Delivering Full Employment?; What Is the Role of Investment in Delivering Full Employment?; Why is "Planning Development" Necessary?; What Is Industrial Policy?; Structural Transformation, Industrialization, and Technological Change in Developing Asia; Why Do Export Diversification and Sophistication Matter?; Unemployment Versus Inflation; What Should Be the Role of Fiscal and Monetary Policies for Development?; Is It Possible to Achieve Full Employment in the Presence of Structural Transformation?; Should the Government (Public Sector) Intervene Directly and Become the Employer of Last Resort?; Can Competitiveness and Globalization Deliver Inclusiveness and Full Employment?; Export-Led Growth or Domestic Demand-Led Growth?; Is Education a Key Ingredient of Inclusive Growth?; Conclusions; References; Author Index; Subject Index

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