Inclusive Growth and Sustainable Development Nexus: Where Is the Synergy?
Livingstone Edward Xetor, Justice Mensah
Abstract
ABSTRACT Inclusive growth is essential in achieving sustainable development. Both concepts share similar objectives of championing shared prosperity, equity, and environmental stewardship for human welfare. However, the interconnections between them for the well‐being of the vulnerable are missing in extant literature. Hence, it is imperative to unravel the backward and forward linkages between the two concepts. Therefore, the thrust of the paper is to assess the interlinkages between inclusive growth and sustainable development for policy direction. Based on Amartya Sen's Capability Approach, we argued that both inclusive growth and sustainable development enhance human capabilities. While inclusive growth provides opportunities for individuals to participate in and benefit from economic growth, sustainable development ensures that the opportunities are available to both present and future generations without compromising environmental and social equity. It is, therefore, recommended that policymakers initiate transparent, accountable, and responsive policies and strategies that promote inclusive growth and sustainability simultaneously. Again, the policies should promote green technology, inclusive economic practices, and social protection that align with the goals of growth and sustainability.