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Economic and Social Survey of Asia and the Pacific 2018

Mobilizing Finance for Sustained, Inclusive and Sustainable Economic Growth

image of Economic and Social Survey of Asia and the Pacific 2018

Sustainable Development Goal 8 calls for promoting sustained, inclusive and sustainable economic growth. These three aspects of economic growth correspond to the three pillars of sustainable development: economic resilience, social inclusiveness and environmental sustainability. The region has made tremendous progress on the economic front. However, economic inequality within and among the region’s economies has increased, and rapid expansion of economic output has contributed to untenable levels of environmental degradation. The Survey shows that this is an opportune time for governments to initiate policies that can make economies resilient, inclusive and sustainable. It contains analyses of such issues and explores policy options.

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Mobilizing finance for sustained, inclusive and sustainable economic growth

There are numerous policy actions that developing Asia-Pacific countries can undertake to achieve sustained, inclusive and sustainable economic growth. Examples of some suggested policy actions range from increasing fiscal spending to lift productivity growth and reduce inequalities to introducing measures aimed at addressing environmental degradation, natural disasters and climate change. A key consideration is how to mobilize financing, whether from the public and private sectors or domestic and external sources, to effectively pursue sustainable development. The challenge seems daunting. Past spending and allocation of available resources has not been adequate, while future requirements are likely to be even greater. In this chapter it is argued that, to meet the financing challenges, countries will need to not only channel existing financial resources towards sustainable development but also come up with additional financial means.

English

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