Governments have a central role to play in building the policy framework required to stimulate more inclusive forms of growth, including through investment in public infrastructure and education. Governments also need to provide the leadership and good governance required to implement the right policies.(1)
- Policy frameworks that are predicated on promoting equality of opportunity, particularly in terms of access to markets, resources, and an unbiased regulatory environment for businesses and individuals, are paramount.
- Enabling more inclusive growth requires improving access for all citizens to participate in the market either as entrepreneurs or employees, in other words, through economic opportunities. Policies that aim to create an inclusive labour markets can contribute to creating socially stable environments in which all sectors of society can feel equal part of.
- Education that builds relevant skills and knowledge gives people the tools they need to start or scale up their businesses, or to move up the skills' ladder.
- The cohesiveness of entire communities is seen as bound to economic development, to education, and to the creation of job opportunities for all those who can work, especially youth. In this era of a globalised economy and information age, where capital and labour is so mobile, no country can afford to undervalue or waste its human resources.
- Labour legislation in many developing countries can serve to exclude many workers from the formal economy, while in many developed countries it can become a barrier to labour market entry for certain groups, such as youth, female workers, and (legal) migrant workers. Labour legislation needs to work for the benefit of all workers, while governments need to tackle vested interests that seek to maintain exclusionary legislation.
- Discriminatory legislation or practices that serve to exclude certain groups from labour market activity need to be eliminated.
(1) Sophie Coughlan, Fabrice Lehmann & Jean Pierre Lehmann: Inclusive growth: The road to global prosperity and stability, ICC CEO Regional Forum, New Delhi, December 2009.