The Inclusive Growth Index: Quantifying the Way Forward
The Emerging Markets Inclusive Growth Index marks a milestone, not only in the development of actionable understanding of the issues facing the global economy in 2014 and beyond, but in MasterCard’s own journey toward helping foster inclusive growth in the world’s emerging economies.
That’s worth italicizing. Because it’s the central tenet of Yuwa Hedrick-Wong’s work in developing the Index that inclusive growth means sustainable growth, a learning for some high-profile markets in the developing world.
As Hedrick-Wong notes in his conclusions, “Inclusive growth is not a sufficient condition for convergence, but it is a necessary condition, and without it emerging markets will not even be in the running. It is therefore a differentiator that separates the winners from the losers among the emerging markets in the future.”
As the Director of Research and Publications at the MasterCard Center for Inclusive Growth, I’m especially excited about the Center’s own first foray into thought leadership aimed at providing the conceptual tools government, NGOs and industry need to make sure everyone participates in the global economy. One way to put it is we want the global economy to grow. Watch this space for more research that leverages the knowledge resident at MasterCard and among our senior fellows.