Redefining growth: how shared prosperity frameworks challenge traditional economic models

Abstract

The concept of shared prosperity has emerged as a critical framework for achieving inclusive development, ensuring that economic growth benefits all segments of society, particularly marginalized and vulnerable groups. This research paper examines the interplay between shared prosperity and inclusive development, analyzing key policy mechanisms, institutional frameworks, and socio-economic factors that contribute to equitable progress.

Using a mixed-methods approach, the study evaluates global case studies to identify best practices in wealth redistribution, social protection, and human capital investment. Findings suggest that progressive taxation, inclusive labor policies, and targeted social programs are essential in reducing inequality and fostering sustainable development. Additionally, the paper highlights the role of digital transformation, gender equity, and participatory governance in enhancing economic inclusivity.

The study concludes that shared prosperity is not merely an outcome but a dynamic process requiring multi-stakeholder collaboration. Policymakers must prioritize pro-poor growth strategies, financial inclusion, and environmental sustainability to ensure long-term, inclusive development. By bridging theoretical insights with empirical evidence, this research contributes to the discourse on equitable growth and offers actionable recommendations for fostering a more inclusive global economy.