INCLUSIVE ECONOMY AS A NEW PARADIGM OF SUSTAINABLE DEVELOPMENT

Abstract

Introduction. Addressing inequality and poverty is one of the priorities of economic development in most countries of the world, as well as one of the key factors in ensuring economic and social stability. The need to address these issues requires the introduction of new concepts of development, such as the concept of sustainable development or the concept of inclusive development. The purpose of the article is to generalize the approaches to defining the concept of inclusiveness, research of various aspects of the concept of inclusive development, indicators of its evaluation. Results. The essence of the concept of "inclusive development" is considered. The key characteristics of inclusive development are indicated focusing on accelerated poverty reduction, coverage of all sectors of the economy, attracting a larger share of the country's labor force. The key discussion aspects of the theory of inclusive development are identified and analyzed: terminological, basic, substantive and applied. The shortcomings of the existing system for assessing the success of countries' development, based on the use of GDP, are studied. The essence, shortcomings and prospects of using a more comprehensive indicator Inclusive Growth and Development Index (IDI), based on the calculation of 12 partial indicators, are identified. Conclusions. According to the results of the study, the essence and debatable aspects of the concept of inclusive development which is based on the basic principles of the theory of sustainable development are determined. It is substantiated that increasing the inclusiveness of the economic system by involving the majority of the population in active economic activity and participation in the distribution of its results should be in the interests of a wide range of stakeholders. It is determined that promising areas of further research are the transition of this concept from theoretical constructions to the definition of practical tools and models for implementing the principles of inclusive development for the country as a whole and individual economic subsystems within it. Key words: inclusion, concept of inclusive development, economic growth, Inclusive Growth and Development Index.