Inclusive Innovation and Inclusive Growth Tools for Eliminating the Gaps Created by Economic Growth

Innovation is considered an engine of growth that in the long term has the potential to improve the well-being of all. The objective of this paper is to provide an overview of economic concepts related to inclusive innovation and inclusive growth, and to present some of the means for social inclusion. The methodology of this study consisted first in the analysis of the specialized literature in the economic and managerial fields and the definition of the key concepts necessary for inclusive innovation and inclusive growth which constitute a couple of tools for eliminating the gaps created by economic growth. It is than analyzed the economic growth and economic inequity. The results of the study reveal mechanisms for inclusive growth, poverty reduction and pro-poor growth, productive employment, gender equality and opportunity, social safety nets, and the steps for promoting social inclusion. In conclusion, more equal distribution of income and assets can foster growth, whereas high inequality can retard it.