Encouraging economic growth and development is a core aim of public policy; however, there is increasing concern with the question ‘who gains from growth?’. This has been brought into sharp focus by the global financial crisis, continued economic and social inequalities, and on-going austerity in many countries. In the UK, there are long-running concerns about low-pay, productivity and spatial disparities in economic performance and outcomes, as well as increasing concerns about insecurity in the labour market. There is also a growing acknowledgement that future growth and development must be ‘greener’ and more sustainable. Yet questions remain about the ability to balance economic, social and environmental sustainability – with an associated proliferation of proposed development models, such as local economic development (LED), the low carbon economy, the circular economy, a sharing economy, community economic development and community finance.
The economic and social outcomes of growth and development relate to both the type of growth which is generated and the mechanisms connecting this to the experiences of workers, citizens and communities. The aim of this CBiS research cluster is to develop high quality and impactful research, which seeks to inform and shape policy on the future challenges for economic development and inclusive economies.
Specific areas of focus are:
- Understanding the economic and social implications of different approaches to economic development, forms of growth and associated business models;
- Generating insights into how the benefits of growth and development can accrue more broadly and equitably, including implications for policymaking;
- Developing practice and learning through our regional position and partnerships.
Core Cluster Themes
Three streams of work underlie this cluster’s focus:
- Inclusive economies
- The impact of social and economic development
- Greening growth
Read more in our Research Cluster Brochure.