Sustainable and Inclusive Economic Development : A Global Perspective

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 affiliated with the School of Business at The Papua New Guinea University of Technology, Papua New Guinea. His distinguished academic career includes former professorships at UUM (Malaysia), HUFS (South Korea), AAU-UoG-DBU-DTU (Ethiopia), LPU (India), and UPES (India). Dr. Prabhakar is the Director of Global South Social Networks (GSSN) and the former Editor-in-Chief of the International Journal of Asian Social Sciences. He is also an active member of the Intellectual Networks for the South Centre in Geneva. For the past 28 years, Dr. Prabhakar’s research has centered on themes such as globalization, South-South economic cooperation, trade and technology, social entrepreneurship, economic systems, poverty and inequality, sustainable and inclusive development, and the evolving balance of global powers—including BRICS, SCO, and the Global South’s movement toward multipolarity and de-dollarization. During his academic journey, he has published five books and contributed 32 research papers to Scopus-indexed journals. Dr. Prabhakar earned his MPhil and PhD in Economics from Jawaharlal Nehru University in New Delhi, India.

Vasilii Erokhin, PhD, is Associate Professor at the School of Economics and Management, Harbin Engineering University, China. Since 2017, Dr. Erokhin has been a researcher at the Center for Russian and Ukrainian Studies and the Arctic Blue Economy Research Center at Harbin Engineering University, China. He is the author of over 190 scientific works in the areas of international trade, globalization, sustainable development, and food security issues, with a focus on emerging markets, developing countries, and economies in transition. Dr. Erokhin is an editor and board member for several peer-reviewed journals and a holder of honorary awards from the Ministry of Agriculture and the Ministry of Education and Science of Russia. In 2018 and 2019, he was named among Publon top peer reviewers in cross-field studies and environment and ecology.

K. Kuperan Viswanathan, PhD, is Professor of Resource Economics and Management and Head of Financial Analysis and Policy Competency Center at the Othman Yeop Abdullah Graduate School of Business at the Universiti Utara Malaysia. Professor Viswanathan is a leading natural resource economist with more than 35 years of experience in resource economics, policy and development research, social science research capacity building, and education and training. He was a member of the World Bank-affiliated Consultative Group for International Agricultural Research senior researchers team and led the Centers Dhaka and South Asia office from January 2004– March 2005. He also led the Global Project on Fisheries Co-management, which involved extensive partnership and research development with fisheries line agencies and research centers in Asia and Africa. He serves on the editorial committees of natural resource and management journals of developing countries, such as the African Journal of Marine Science, Malaysian Journal of Agricultural Economics, and the Malaysian Management Journal. Since the early 1980s, he has worked as a researcher, project leader, senior scientist, director, and expert adviser for several organizations such as WorldFish, Food and Agricultural Organization of the United Nations. He teaches Global Economic Theories and Issues and International Business and Managerial Economics to MBA and DBA students at the Othman Yeop Abdullah Graduate School of Business.

Poshan (Sam) Yu teaches at the University of Victoria Program at Soochow University, Suzhou, China. He has held the position of an External Professor of Financial Technology and Finance at SKEMA Business School, China. Additionally, he is a visiting professor at Krirk University in Thailand, an EU-Asia research coordinator at the European Business University of Luxembourg, and a visiting researcher at the Australian Studies Centre of Shanghai University. Moreover, he serves as a guest professor at Emlyon Business School, China, and is an adjunct faculty member at George Washington University’s master (finance) program at Renmin University of China. Previously, he was a casual academic at the University of South Australia Business School. As the primary author, Mr. Yu has published over 10 articles, more than 52 peer-reviewed book chapters, and 13 edited books. He is the Associate Editor for Humanities and Social Sciences Communications (an SSCI-indexed journal), the Deputy Editor of the International Journal of Interdisciplinary Research in Social Science (IJIRSS), and the Editor of the European Academic Journal (EAJ). Furthermore, he is an entrepreneur and venture capitalist, collaborating with alumni and senior faculty members from Cambridge University. Mr. Yu has received several awards for his work.