Growth report from the World Economic Forum.
No country is as good at inclusive growth as Norway, according to a new report from the World Economic Forum.
In a report the World Economic Forum (WEF) has published ahead of the summit in Davos from January 17th to 20th, the emphasis is on how the world’s countries can not only increase growth, but also increase inclusive growth.
Inclusive growth is economic growth that provides opportunities for the entire population of a country, and which distributes profits fairly.
The report is WEF’s response to a significant challenge world leaders face today: to increase economic growth and social inclusion, at a time when many countries’ opportunities in monetary and fiscal policy is limited.
The report, E24 has been given access to, includes two main elements:
An inclusion index
Model of how to achieve inclusive growth
The index is made up of twelve indicators, which provide a fuller measure of economic development than GDP.
It includes measures of labor participation and productivity, life expectancy, median income among households, poverty, in addition to the goal of sustainability.
Norway on top
Norway is on top as the world’s most inclusive nation, according to the index.
This development reflects Norway’s success to follow a clear policy for inclusion in growth processes, states the report.
Average life standard is high and growing, while disparities are at the lowest in the world.
The authors write that Norway’s strengths include a high degree of social mobility, low unemployment, and high labor force participation among women – with generous arrangements around parental leave and affordable daycare, which enables talented women to participate in the workplace.
Strong collective bargaining powers to protect workers’ rights.
Source: VG / E24 / Norway Today