Editing Economic growth (section)

===Equitable growth===
{{Main|Inclusive growth}}

While acknowledging the central role economic growth can potentially play in [[Human development (humanity)|human development]], [[poverty reduction]] and the achievement of the [[Millennium Development Goals]], it is becoming widely understood amongst the development community that special efforts must be made to ensure poorer sections of society are able to participate in economic growth.<ref name="ODI">Claire Melamed, Kate Higgins and Andy Sumner (2010) [http://www.odi.org.uk/resources/details.asp?id=4892&title=millennium-development-goals-equitable-growth-policy-brief Economic growth and the MDGs] {{Webarchive|url=https://web.archive.org/web/20110717041456/http://www.odi.org.uk/resources/details.asp?id=4892&title=millennium-development-goals-equitable-growth-policy-brief |date=2011-07-17  }} [[Overseas Development Institute]]</ref><ref>{{cite news|last1=Anand |first1=Rahul|title=Inclusive growth revisited: Measurement and evolution|url=http://www.voxeu.org/article/inclusive-growth-revisited-measurement-and-evolution|access-date=13 January 2015|work=VoxEU.org|publisher=Centre for Economic Policy Research|date=17 August 2013|display-authors=etal}}</ref><ref>{{cite web|last1=Anand|first1=Rahul|date=May 2013|title=Inclusive Growth: Measurement and Determinants|number=WP/13/135|publisher=International Monetary Fund |location=Asia Pacific Department |url=http://www.imf.org/external/pubs/ft/wp/2013/wp13135.pdf |access-date=13 January 2015|series=IMF Working Paper|display-authors=etal}}</ref> The effect of economic growth on poverty reduction – the [[growth elasticity of poverty]] – can depend on the existing level of inequality.<ref>{{cite web|last1=Ranieri|first1=Rafael|last2=Ramos|first2=Raquel Almeida|title=Inclusive Growth: Building up a Concept |date=March 2013|volume=104|url=http://www.ipc-undp.org/pub/IPCWorkingPaper104.pdf |access-date=13 January 2015|series=Working Paper|publisher=International Policy Centre for Inclusive Growth|location=Brazil|issn=1812-108X}}</ref><ref>{{cite book |last=Bourguignon |first=Francois |chapter=Growth Elasticity of Poverty Reduction: Explaining Heterogeneity across Countries and Time Periods |date=February 2002 |title=Forthcoming in T. Eichler and S. Turnovsky (eds), Growth and Inequality, MIT Press |s2cid=1574390 |url=http://www.delta.ens.fr/abstracts/wp200203.pdf|url-status=dead|archive-url=https://web.archive.org/web/20040330010906/http://www.delta.ens.fr/abstracts/wp200203.pdf |archive-date=2004-03-30}}</ref> For instance, with low inequality a country with a growth rate of 2% per head and 40% of its population living in poverty, can halve poverty in ten years, but a country with high inequality would take nearly 60 years to achieve the same reduction.<ref>Ravallion, M. (2007) Inequality is bad for the poor in S. Jenkins and J. Micklewright, (eds.) Inequality and Poverty Re-examined, Oxford University Press, Oxford.</ref><ref>Elena Ianchovichina and Susanna Lundstrom, 2009. [http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2009/03/03/000158349_20090303083943/Rendered/PDF/WPS4851.pdf "Inclusive growth analytics: Framework and application"] {{Webarchive|url=https://web.archive.org/web/20141111163449/http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2009/03/03/000158349_20090303083943/Rendered/PDF/WPS4851.pdf |date=2014-11-11  }}, Policy Research Working Paper Series 4851, The World Bank.</ref> In the words of the [[Secretary-General of the United Nations|Secretary-General]] of the United Nations [[Ban Ki-moon]]: "While economic growth is necessary, it is not sufficient for progress on reducing poverty."<ref name="ODI" />