Sustainable and Inclusive Economic Development

In this new book, Sustainable and Inclusive Economic Development: A Global Perspective, the authors present innovative approaches to a new interpretation of sustainable development concepts in light of the post-pandemic revival of global economic activity. It also explores possible solutions to the energy-environment-development trilemma.

The book addresses the effects of tariff escalations, administrative restrictions, and other forms of trade protectionism on global supply chains. Ultimately, the authors probe into many choices that link national, regional, and global policies extensively with the provision of sustainable supply, welfare, and economic growth through international cooperation in the new era of post-COVID global economy.

The volume first introduces and highlights inclusive and sustainable economic developmental issues and challenges and reviews the various economic theories and growth models that have identified the principles that govern various aspects of economic development. The authors lay out the various theories and models of growth and development and poverty and economic inequality, such as Rostow, Harrod-Domar, Robinson, Nurksian, and many others.

The book proceeds on to explanations of development policies and practices, such as industrial policy reforms and labor reform laws, agricultural policies and farm laws, corporatization and marketization of agriculture, government financial resources and foreign direct investment, regional and international trade blocks, foreign capital and multinational corporations, infrastructural development, and more. It also discusses some of the obstacles to economic development, such as poverty, unemployment, income inequality, inadequate healthcare and illiteracy, food insecurity, environmental degradation, and related issues.

The authors then explore global economic issues and their solutions covering international trade, globalization, and regrouping of regional economic unions, looking at globalization and how it has impacted international trade and what measures developing countries have taken and can take in the future to adapt to the exigencies of the pandemic-related impacts on the global economy. The authors study previous global economic and financial crises, probe into the effect of globalization on social welfare, and see how contemporary development models in particular countries could be adapted to the new normal of the post-COVID world.

This 500+ page book will prove valuable and insightful for government officials, policymakers, and global businesses in many countries, describing, as it does, contemporary issues of economic development in a systemic manner that makes the narrative analytical and comprehensive so that it may easily be accessible to a broader audience, including students studying economic development.

Akhilesh Chandra Prabhakar, PhD, is an economist with over two decades of international academic and research experience across Asia, Africa, and the Pacific. He has held professorial roles in India, Malaysia, South Korea, Papua New Guinea, and Ethiopia, and has served as Director of the Global South Social Networks and Editor-in-Chief of the International Journal of Asian Social Sciences. His research focuses on sustainable development, industrial economics, and global economic transformation.

Vasilii Erokhin, PhD, is Associate Professor at Harbin Engineering University, China, and a researcher at its Center for Russian and Ukrainian Studies and Arctic Blue Economy Research Center. He has authored more than 190 publications on international trade, globalization, sustainable development, and food security, with a focus on emerging and transition economies. An active journal editor and board member, he has received honors and was recognized by Publons as a top peer reviewer.

K. Kuperan Viswanathan, PhD, is Professor of Resource Economics and Management at Universiti Utara Malaysia, where he leads the Financial Analysis and Policy Competency Center. With over 35 years of experience, he has worked extensively in resource economics, policy, and development research. He has held senior roles with organizations including WorldFish and the FAO and contributed to global initiatives such as fisheries co-management.

Poshan (Sam) Yu is an academic and finance professional teaching at the University of Victoria Program at Soochow University, China. He has held visiting and external professorships across Asia and Europe and serves in editorial roles for several international journals. He has published articles, book chapters, and edited volumes. In addition to academia, he is an entrepreneur and venture capitalist collaborating with global partners.