Determinants of inclusive growth in ASEAN

Alekhina, Victoriia; Ganelli, Giovanni

doi:10.1080/13547860.2021.1981044

Cited by 19 publications

(9 citation statements)

References 40 publications

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“…In the same vein, Alekhina and Ganelli (2021) analyzed the effect of fiscal, monetary and macrostructural reforms on inclusive growth in ASEAN. The study used a standard empirical panel cross-country regression model.…”

Section: Empirical Literaturementioning

confidence: 99%

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Fiscal space, governance quality and inclusive growth: evidence from Africa

Katuka,

Mudzingiri,

Ozili

2023

JFEP

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Purpose This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries. Design/methodology/approach In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income. Findings The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa. Originality/value Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.

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Section: Empirical Literaturementioning

confidence: 99%

“…As the literature suggests, inclusive growth is beyond rapid economic growth (OECD, 2014; Ngepah, 2017; Alekhina and Ganelli, 2021). While rapid economic growth is undoubtedly essential for poverty reduction, it must also be equitable and broad-based across various sectors (Anand et al , 2013).…”

Section: Introductionmentioning

confidence: 99%

Fiscal space, governance quality and inclusive growth: evidence from Africa

Katuka,

Mudzingiri,

Ozili

2023

JFEP

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“…On the other hand, Nayak et al (2010) have put forward the concept of relative growth rather than absolute growth where pace of growth is raised and the size of the economy increases with reduced inequalities and thus focusses on the overall growth in gross domestic product (GDP), per capita GDP, and the socio-economic inclusiveness. Jalles and Mello (2019), Alekhina and Ganelli (2020) and Balakrishnan et al (2018) have tried to find out the drivers of inclusive growth and have used them in cross-country regressions to understand the status of pro-poor and inclusive growth.…”

Section: Literature Reviewmentioning

confidence: 99%

How Inclusive Are Indian States: Evidence from Inclusive Development Index

Aggarwal

2021

Arthaniti: Journal of Economic Theory and Practice

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The current study aims to find an ‘Inclusive Development Index’ (IDI) for the selected Indian states for the year 2017–2018 and has tried to incorporate indicators encompassing different aspects of the economy and life of the people. The index has tried to be more comprehensive and contemporary and attempts to keep the interest alive in the all-important policy objective of an inclusive growth in India as well as in many other countries around the world. The study has followed the guidelines given by Organisation for Economic Co-operation and Development ( OECD, 2008 , Handbook on constructing composite indicators: Methodology and user guide) to construct a composite index and has included two pillars of growth with a total of 14 dimensions (sub-pillars) represented by 62 indicators. Principal component analysis (PCA) has been applied at the indicators level and simple averaging at the dimension and pillar levels to obtain the composite IDI for 20 Indian states. The states are ranked based on their inclusiveness score on IDI and divided into the ‘front-runners’, the ‘achievers’ and the ‘aspirants’. IDI may help the states to identify their spheres of ‘low’ performance and learn from their ‘front-runner’ peers.

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“…Earlier studies' focus on relatively short timeframes has been a recurring limitation. For example, Jamil's study (2022) limited its analysis to the years 2008 to 2020, Noh & Yoo's (2008) study focused solely on the years 1995 to 2002, Asongu et al (2021) considered only the years 2012 to 2016, and Alekhina & Ganelli's (2023) study considered only the years 1992 to 2017. Those limitations may result in a lack of understanding of long-term changes and trends that may only be revealed through observations conducted over a longer timeframe.…”

Section: Introductionmentioning

confidence: 99%

Digital transformation and its impact on inclusive growth: a four-decade experience in Indonesia

Kristyanto,

Jamil

2023

JESP

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The debate over whether digital transformation benefits or harms inclusive growth continues. Existing evidence in the literature, on the other hand, is frequently based on short study periods, subjective measurement issues, and endogeneity issues, resulting in less credible findings in previous studies. To address this gap, this study draws on four decades of Indonesian experience spanning 1980 to 2021, with a focus on two primary objectives. First, this study utilises Principal Component Analysis (PCA) to assess the key factors forming the progress of digital transformation and inclusive growth. Second, the Two-Stage Least Square (2SLS) estimation method is applied in this study to investigate the endogenous impact of digital transformation on inclusive growth. The PCA results show that medium and high-tech manufacturing play a dominant role in representing digital transformation, while GDP per capita growth and poverty alleviation are the primary contributors to measuring inclusive growth. The 2SLS estimation shows that digital transformation significantly promotes inclusive growth in Indonesia, with its impact closely related to the previous year's digital transformation status. When these findings are considered jointly, it is clear that the beneficial effects of digital transformation are mainly explained by how medium and high-tech manufacturing sectors can stimulate inclusive growth in the context of increasing GDP per capita and reducing poverty in Indonesia.

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Determinants of inclusive growth in ASEAN

Cited by 19 publications

References 40 publications

Fiscal space, governance quality and inclusive growth: evidence from Africa

Fiscal space, governance quality and inclusive growth: evidence from Africa

How Inclusive Are Indian States: Evidence from Inclusive Development Index

Digital transformation and its impact on inclusive growth: a four-decade experience in Indonesia

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