Globalization, Governance, and Inclusive Human Development: An Asian Perspective
An enhanced focus on inclusive economic growth has recently led to a paradigm shift in framing development policies. Inclusive human development cannot be achieved if principles of participation and equity are disregarded. The current study investigates the implications of globalization and governance from the perspective of inclusiveness by using IHDI (Inequality-Adjusted Human Development Index) for a set of Asian countries from 2010 to 2018. The Feasible Generalized Least Square (FGLS) technique is used to assess this relation, and the results show that governance and globalization aid in making human development more inclusive. Population growth has a negative relation with inclusive human development, and higher population growth in Asia puts pressure on the already fragile institutions. The study also entails reducing corrupt practices, ensuring accountability, and transparency in political and regulatory processes is vital for broad-based human development. Higher liberalization, higher levels of social globalization, and effective governance can also be helpful in realizing the goal of more inclusive human development in Asia.
Keywords: corruption, governance, human development, inequality, liberalization.
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