Excerpt

In the context of prolonged economic crisis, fueling and sustaining growth is at the top of the global agenda. Policymakers are urgently searching for the right mix of rules and incentives. At the same time, when it comes to action, the private sector must play a central role. Private sector firms fuel economic growth by purchasing raw materials, investing in equipment and infrastructure, driving job creation, raising skill levels, transferring technology, generating tax revenues for governments, and providing goods and services that people need to be productive. In addition, firms have the potential to help sustain economic growth by making it more inclusive – expanding economic opportunity for populations that have traditionally faced barriers to participating in, and benefiting from, formal markets. An emerging body of research by the nternational Monetary Fund and others suggests that inclusive growth is more sustainable and leads to greater gains over time.

Citations

Jenkins, Beth, Kara Valikai, and Piya Baptista. "The Coca-Cola Company’s 5by20 Initiative Empowering Women Entrepreneurs across the Value Chain." Research Report No. 55. CSR Initiative at the Harvard Kennedy School and Business Fights Poverty, 2013.