Development of Inclusive Economy as the Basis of Economic Growth of the Global Economy

Abstract

The authors of the research paper conducted a comprehensive examination of the theoretical underpinnings of the definition of the term "inclusive economy" by reviewing contemporary economists' specialized literature. Based on the analysis, the authors reached the conclusion that there is currently no universal definition of the concept of inclusive economy. Therefore, to fully examine the research topic, the authors identified various approaches to defining the concept. Based on the analysis, the authors of the study created a matrix of SWOT analysis, in which weaknesses and strengths, opportunities and threats are compared and strategies for further development are obtained. According to the analysis, strengths prevail. Also, it was concluded that in today's conditions inclusive economy has great potential and opportunities for effective implementation. Therefore, in this case, for the qualitative development of an inclusive economy in its further activities, it is necessary to choose a "strengths and opportunities" strategy, in which the country must take active actions to strengthen its economic positions. Analyzing all the abovementioned information, the authors put forward a conceptual approach that utilizes the method of implementing inclusive economic development.