An inclusive approach to economic development: genesis and key points

. For a long time, the world academic community has been in search forways, methods, tools and techniques of driving economic growth. The current trends ineconomic studies have made researchers admit that market economy is unable to solvethe key social problems, and that economic growth is not enough for the fully-fledgeddevelopment of the country. Therefore, discussing the concept of inclusive economicdevelopment is currently of great importance.Purpose. The purpose of the article is to examine the genesis of the concept of inclusiveeconomic development, to highlight its main theoretical foundations, to study methods ofcalculating inclusive development index (IDI), and analyse the countries ranking under theIDI.Methods. The following general and special methods are used to achieve the purpose ofthe research paper: induction and induction, logical generalization, analysis and synthesis,comparison, grouping.Results. The paper provides a rationale for the concept of inclusive economicdevelopment, its genesis and chronology. The conceptual framework for inclusive economicdevelopment is examined through the lens of the key terms used in the research. Thedistinctive nature of aims for inclusive growth compared with those of economic growthis illustrated. A new indicator of the growth rate estimation in the economy – inclusivedevelopment index (IDI) – is analyzed as well as the main groups of indicators that areused to calculate the former. The countries ranking under the IDI and countries rating under the GDP per capita are compared. The position of Ukraine in the ranking of countries under the IDI is analyzed. The reasons that led to a low position of Ukraine in the overall ranking of countries are formulated.