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Published in: Quality & Quantity 1/2021

27-06-2020

Is it an institution, digital or social inclusion that matters for inclusive growth? A panel data analysis

Authors: Aribah Aslam, Amjad Naveed, Ghulam Shabbir

Published in: Quality & Quantity | Issue 1/2021

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Abstract

This study empirically examines the impact of institutional quality, social inclusion and digital inclusion on inclusive growth across different economies characterized by different income groups. Particularly, the study examines the impact of institutions on inclusive growth by using the panel data for 83 countries over the period 2010–2017. For empirical specification, we used two-steps system-GMM estimation technique to tackle endogeneity and min–max normalized indexing technique to construct the indices for inclusive growth, social inclusion, digital inclusion and institutional quality. The results of this study show that there is a direct link between institutional quality and inclusive growth for a higher-income group of countries but not in the rest of the income groups. Contribution of social and digital inclusivity is significant in all three income groups, except for social inclusion in middle-income countries. From the policy point of view, these findings suggest that establishing and strengthening the institutional structure in low- and middle-income countries can contribute towards better and higher inclusive growth.

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Appendix
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Footnotes
1
“SDG Goal # 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
 
2
Average values for years 2010–2016 are reported in Figs. 2, 3, 4, 5.
 
3
It is yet to be noted that the model assumes that L and K is fully employed in country. However, the case is weak for LDCs, which will be tested through empirical modeling.
 
4
Note that Eqs. 16 is designed based upon neo-classical model, which will be added in the SI.
 
5
The choice of sample is mainly based on the availability of data, particularly on all variables. The available time-period of panel data is 7 (i.e., T = 7) and T < N allows us to successfully implement the system GMM technique.
 
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Metadata
Title
Is it an institution, digital or social inclusion that matters for inclusive growth? A panel data analysis
Authors
Aribah Aslam
Amjad Naveed
Ghulam Shabbir
Publication date
27-06-2020
Publisher
Springer Netherlands
Published in
Quality & Quantity / Issue 1/2021
Print ISSN: 0033-5177
Electronic ISSN: 1573-7845
DOI
https://doi.org/10.1007/s11135-020-01008-3

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