Inclusive Growth, Full Employment, and Structural Change

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

'Jesus Felipe provides a masterful analysis of growth in Asia by highlighting the role played by structural transformation... The road ahead for developing Asia is difficult, but this magnificent book will make the task more manageable for policy makers and analysts.' —Ricardo Hausmann, Center for International Development at Harvard University