Pareto improvement of global inclusive growth: the “Belt and road” model

Purpose. Establishing the link between the Belt and Road Initiative (BRI) and inclusive growth, taking into account the concept of Pareto improvement. Methodology. The study adopts a mixed-methods approach, combining quantitative analysis with qualitative evaluation, to assess how the BRI influences inclusive growth at national and regional levels. Findings. Existing research shows a growing intersection between inclusive growth theory and the economic effects of the BRI. Empirical results suggest that BRI participation is associated with shifts in GDP, inequality, trade volume, infrastructure investment, and social development. However, benefits of the BRI initiative are unevenly distributed across regions. Case studies also demonstrate significant variation in economic impact depending on the region. Thematic studies reveal regional differences: for instance, Kazakhstan, Southeast Asian, and African countries report varying outcomes depending on project scale, sector, and governance. Comparisons between BRI and non-BRI countries suggest higher gains for the former, though the results represent optimistic estimates rather than guarantees of Pareto optimality. Originality. This study introduces a unique framework by interpreting the BRI as a model of inclusive globalization rooted in Pareto improvement. In contrast to traditional development models, the BRI is positioned as a mechanism fostering open, inclusive, fair, balanced and mutually beneficial economic globalisation. The study offers a new perspective, according to which the BRI initiative improves the welfare of participating countries without worsening the economic situation of other states. Thus, the Belt and Road Initiative is seen as a global mechanism for achieving Pareto improvement, promoting inclusive growth without compromising third parties. Practical value. The work has practical value due to its evaluating the BRI through the lens of Pareto improvement, highlighting its potential in promoting global inclusive growth. Based on empirical data and real-life examples, the study demonstrates how the initiative contributes to economic development, the reduction of regional disparities, and international cooperation. Importantly, these benefits are achieved without harming any participating country, making the initiative an example of mutually beneficial economic integration and an effective policy tool for global development.