Economic Growth and Social Equity: An Empirical Analysis of Inclusive Growth in Pakistan
DOI:
https://doi.org/10.61506/01.00408Keywords:
economic growth, social equity, inclusive growthAbstract
In this thesis, we look at how IG works in Pakistan. Inclusive growth enhances social chances for all segments of society throughout economic development. The study main objective was the measurement of the inclusive growth in Pakistan from 1980 to 2019 in the light of the Asian Development Bank's methodology. Economic growth, job creation, improved transportation, easier access, and a healthier natural environment are all indicators of inclusive growth. Pakistan has accomplished sufficient inclusive growth, according to the statistics. Government health spending, GDP growth, and the share of agriculture and industry in GDP are all positively connected. These variables enhance inclusion, as demonstrated. Employment, income disparity, and poverty all act as roadblocks to inclusive growth. All members of society benefit from economic development, as the growth history found a strong correlation between inclusive growth and GDP growth rate per capita. Therefore, real GDP per capita growth may help achieve equitable development by improving living standards and opening new economic opportunities, especially for the poor. Economic growth can improve people's lives for the better if we put an emphasis on investing in people, social safety nets, and new business creation and entrepreneurship. Poverty reduction measures should be put in place to allow the poor increased access to education, training, and employment opportunities. Equal access to social safety nets and educational and professional development opportunities may help bring income inequality down. Promote initiative, capital expenditure, and the development of high-quality jobs. Prioritizing healthcare infrastructure, accessibility, and quality is essential for equitable growth.
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