Social integration as a factor of economic growth: experience and perspectives of developing countries

Abstract

Purpose

The purpose of the work consists in studying social integration as a factor of economic growth. The authors focus on experience and perspectives of developing countries, as they show the highest rate of economic growth and have high potential of its acceleration.

Design/methodology/approach

The authors determine the interconnection between the processes of social integration in the four distinguished manifestations with the help of regression analysis and determine the level of homogeneity of data selections for each studied indicator with the help of variation analysis. Scenario analysis of future perspectives of the change of economic growth depending on the influence of the factor of social integration in the unity of its distinguished types is performed. Monte Carlo method is used for forecasting of change of the values of indicators of social integration.

Findings

It is substantiated that social integration is an important factor of economic growth. At the same time, the influence of this factor on economic growth of developing countries is ambiguous. Due to the offered proprietary classification of social integration according to the criterion of involved subjects, it is possible to establish that such types of social integration as integration of social groups, integration of business and society and integration of state and society have a positive influence. However, individual's integration into society has a negative influence.

Originality/value

The research contributes to development of economics by substantiating the significance of the social integration factor for economic growth and specifies the logic of management of this factor, which should be flexible. The perspectives of developing countries in acceleration of the rate of economic growth based on managing the factor of social integration are rather wide and envisage the increase of society's inclusion and the level of consumer consciousness and more active involvement of population into state management in the digital economy.

Citation

Semenova, G.N., Larionova, E.I., Karpovich, O.G., Shkodinsky, S.V. and Ouroumova, F.M. (2021), "Social integration as a factor of economic growth: experience and perspectives of developing countries", International Journal of Sociology and Social Policy, Vol. 41 No. 1/2, pp. 37-49. https://doi.org/10.1108/IJSSP-03-2020-0083