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Can Social Protection Be an Engine for Inclusive Growth?

image of Can Social Protection Be an Engine for Inclusive Growth?

The potential role of social protection in the development process has received heightened recognition in recent years, yet making a strong investment case for social protection remains particularly challenging in many emerging and developing countries. This report challenges us to think deeply about the economic rationale for social protection investments through an inclusive development lens. It helps us understand the links between social protection, growth and inequality; how to measure those links empirically; social protection’s impact on inclusive growth; and how to build a more solid economic case for greater social protection investments.

The report adds to the debate on social protection in three ways. First, it proposes a methodological framework to conceptualise and measure the impact of social protection on what the OECD defines as inclusive growth. Second, it provides new empirical evidence on the impact of different social protection programmes on inclusive growth. Third, it helps strengthen the case for greater investments in social protection while also calling for better data to measure impacts.

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Foreword

The potential role of social protection in the development process has received heightened recognition in recent years. Yet, making a strong investment case for social protection remains particularly challenging in many emerging and developing countries. On the one hand, the overall economic impact of social protection investments remains insufficiently documented. On the other hand, views are still mixed about social protection’s contribution to growth and equity. At a time when debates about universal social protection are generating much attention, better documenting the economic benefits of social protection programmes and building a more solid economic case for investing in such programmes appears critical.

English

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