Asia’s impressive economic growth is being complemented by soaring inequalities. This paper argues that if rising income and non-income inequalities are not addressed, there is a major risk to continued social and economic progress in developing Asia. Drawing on a conceptual analysis of inclusive growth, authors examine policy implications of adopting inclusive growth as the overarching development goal.

Suggested policy ingredients for a development strategy anchored on inclusive growth include:

• high and sustainable growth to create productive and decent employment opportunities 
• private sector driven growth 
• an enabling environment for business investment that is developed and maintained by the government 
• social inclusion to ensure equal access to opportunities
• investments in education, health, and other social services to enhance human capacities 
• promotion of good policies and sound institutions to advance economic and social justice and level playing fields 
• provision of social safety nets to prevent extreme deprivation

To conclude the paper outlines the implications for the Asian Development Bank (ADB) if it is to adopt inclusive growth as its overarching goal.

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