Polarizing World: GDP, Development and Beyond

Michael Shashoua and Sudip Ranjan Basu
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Michael Shashoua: PhD fellow at Rice University, USA

No WP/15/13, MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: Long-term sustained growth increases the permanent income of the recipients - an income which would enable them to invest in enlarging their human capital and welfare. At the macro level, GDP growth generates more fiscal revenues, making the investment in the social sector and environment more viable in the long run. This approach brings the key role of public policymaking in welfare-enhancing mechanisms to the forefront. The ultimate development goal is to promote improvement of overall well-being measured by various aspects of welfare such as economic, social, and environmental. Under the auspices of the United Nations, leaders and policymakers are now engaged in the challenging task of renewing and reorienting a global development agenda that is visionary in nature and owned by all. One of the key elements of this new agenda will be to transform the societal approach to the environment and transmit the benefits of increasing GDP growth in raising general prosperity for all. The United Nations post-development agenda aims to adopt a wide-ranging and transformational new development paradigm in 2015. This new agenda is expected to prepare countries in steering development transformation and address increasing social and economic gaps to improve living standards.

Keywords: Financing; Sustainable Development Goals; Asia Pacific. (search for similar items in EconPapers)
JEL-codes: A10 E20 H00 I30 (search for similar items in EconPapers)
Date: 2015-07
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