The Quality of Growth

López, Ramón E.; Thomas, Vinod; Wang, Yan

The Quality of Growth

Autores

López, Ramón E.

Thomas, Vinod

Wang, Yan

Editor

Washington, DC: World Bank

Descripción

The world faces unprecedented opportunities to reduce global poverty and improve human welfare. Strong global growth and better economic policies in recent years have substantially reduced poverty in many developing countries. However, with the recent financial turmoil in the United States and rising prices for food, oil, and other commodities, the world economy faces heightened risks and volatility. Policymakers around the world face the challenge of maintaining momentum in growth, as well as of improving the quality of growth. This concern over quality is reflected in the highly uneven reduction in poverty, rising inequality in numerous countries, and widening environmental degradation during the past decade, a period of unprecedented high economic growth in developing countries. Unless these issues are confronted, gains from growth are likely to be undermined and the pace of growth, itself, will not be sustained. Growth is clearly linked to reductions in poverty. But the strength of this relationship depends on the quality or nature of growth. Various studies show that some growth patterns systematically reduce poverty and inequality, but others do not. And some growth patterns lead to underinvestment in human capital, overexploitation of natural resources, and degradation of the environment, patterns inimical to the sustainability of growth.

Palabras clave

ABATEMENT, ACCOUNTABILITY, ACCOUNTING, ACCUMULATION OF CAPITAL, AGRICULTURAL SUBSIDIES, AIR POLLUTION, AIR QUALITY, ALLOCATION, ANNUAL REPORT, BANK LENDING, BASIC EDUCATION, BASIC SERVICES, BENEFICIARIES, BORROWER, BUDGET RESOURCES, CAPITAL ACCUMULATION, CAPITAL FLOWS, CAPITAL FORMATION, CARBON, CARBON DIOXIDE, CARBON DIOXIDE EMISSIONS, CARBON EMISSIONS, CARBON TAXES, CASH TRANSFER, CENTRAL GOVERNMENT SPENDING, CLIMATE CHANGE, COMPOSITION OF GOVERNMENT SPENDING, CONCEPTUAL FRAMEWORK, CORPORATE TAX RATE, COUNTRY RISK, CPI, CREDIT GUARANTEES, CREDIT MARKET, CREDIT MARKETS, CREDIT SUBSIDIES, CROWDING OUT, DEBT, DEFORESTATION, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT BANK, DIMINISHING RETURNS, DIVIDENDS, DRINKING WATER, ECONOMIC DOWNTURN, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC POLICIES, ECONOMIC POLICY, ECONOMIC WELFARE, ECONOMISTS, ELASTICITIES, ELECTRICITY, EMISSIONS, EMPIRICAL EVIDENCE, EMPIRICAL STUDIES, ENVIRONMENTAL, ENVIRONMENTAL DEGRADATION, ENVIRONMENTAL PROBLEMS, ENVIRONMENTAL PROTECTION, ENVIRONMENTAL QUALITY, ENVIRONMENTAL REGULATIONS, EQUALIZATION, EVALUATION CAPACITY, EVASION, EXCHANGE RATES, EXPENDITURE, EXPENDITURE POLICIES, EXTERNALITIES, FINANCIAL CAPITAL, FINANCIAL RESOURCES, FISCAL DECENTRALIZATION, FISCAL DEFICITS, FISCAL POLICIES, FISCAL POLICY, FISCAL SUSTAINABILITY, FISCAL TRANSFERS, FOREIGN INVESTORS, FOSSIL FUELS, GLOBAL DEVELOPMENT FINANCE, GOVERNMENT BUDGETS, GOVERNMENT EXPENDITURE, GOVERNMENT EXPENDITURES, GOVERNMENT FINANCE, GOVERNMENT POLICIES, GOVERNMENT POLICY, GOVERNMENT REVENUE, GOVERNMENT SPENDING, GOVERNMENT SUBSIDIES, GROWTH RATE, HEALTH CARE, HEALTH SPENDING, HOUSEHOLD INCOME, HOUSEHOLD INCOMES, HUMAN CAPITAL, HUMAN DEVELOPMENT, INCIDENCE ANALYSES, INCOME DISTRIBUTION, INCOME GROWTH, INCOME INEQUALITIES, INCOME INEQUALITY, INCOME LEVELS, INCOME TAX, INCOME TAXES, INFLATION, INFLATIONARY PRESSURE, INFRASTRUCTURE INVESTMENT, INFRASTRUCTURE SERVICES, INSTITUTIONAL DEVELOPMENT, INSTRUMENT, INTEREST PAYMENT, INTEREST PAYMENTS, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL STANDARDS, INVESTING, INVESTMENT CHOICES, LAND USE, LOAN, LOAN GUARANTEES, LOCAL GOVERNMENT, MACROECONOMIC CONTROL, MACROECONOMIC POLICIES, MACROECONOMIC STABILITY, MARKET DISTORTIONS, MARKET FAILURE, MARKET FAILURES, MARKET INCENTIVES, MASS TRANSIT, MONETARY FUND, MULTILATERAL AGENCIES, NATIONAL INCOME, NATURAL CAPITAL, NATURAL RESOURCES, OIL, PAYMENT OBLIGATIONS, PERFORMANCE ASSESSMENT, PERIODIC REVIEWS, PERVERSE INCENTIVES, PERVERSE SUBSIDIES, POLICY ENVIRONMENT, POLICY INSTRUMENTS, POLICY MAKERS, POLITICAL ECONOMY, POLLUTION, POLLUTION CONTROL, POVERTY REDUCTION, PRIVATE CAPITAL, PRIVATE CAPITAL STOCK, PRIVATE ECONOMY, PRIVATE GOODS, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SECTOR, PRODUCERS, PRODUCTIVITY GROWTH, PROGRAMS, PROPERTY RIGHTS, PROPERTY TAXES, PUBLIC, PUBLIC DEBT, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE PATTERNS, PUBLIC EXPENDITURE REVIEWS, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FUNDS, PUBLIC GOOD, PUBLIC GOODS, PUBLIC HEALTH, PUBLIC INFRASTRUCTURE, PUBLIC INVESTMENT, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR REFORM, PUBLIC SPENDING, QUALITY OF EDUCATION, QUOTAS, RESOURCE MANAGEMENT, REVENUE COLLECTION, SAFETY NETS, SALES TAXES, SOCIAL CAPITAL, SOCIAL EQUITY, SOCIAL PROGRAMS, SOCIAL PROTECTION, SOCIAL SECURITY, SOCIAL SERVICES, STREETS, STRUCTURAL REFORMS, SUBNATIONAL GOVERNMENTS, SUSTAINABLE DEVELOPMENT, SUSTAINABLE GROWTH, TAX, TAX BASE, TAX BURDEN, TAX CODES, TAX COLLECTION, TAX EVASION, TAX EXEMPTIONS, TAX POLICIES, TAX POLICY, TAX REFORM, TAX REFORMS, TAX REVENUE, TAX REVENUES, TAX SYSTEM, TAX SYSTEMS, TAX TREATMENT, TAXATION, TECHNOLOGICAL PROGRESS, TERMS OF TRADE, TOTAL TAX REVENUE, TRADING, URBANIZATION, WAGE DIFFERENTIALS, WATER POLLUTION