The Quality of Growth
The last decade of the 20th century witnessed striking progress in the developing world and at the same time, it also saw stagnation and setbacks. Economic growth is key to development both in its pace and also in its quality. 'The Quality of Growth' is a collection of essays in an ongoing research project. The book looks at the 'World Development Report 1991: The Challenge of Development' and examines how far we have progressed at the turn of the millennium. According to the report, there are four factors especially relevant for poverty outcomes: distribution, sustainability, variability, and governance surrounding the growth process. 'The Quality of Growth' advocates broadening the policy framework from a quantitative agenda for short-term economic growth to a qualitative agenda involving human, social, and environmentally sustainable development. It is an important resource for policymakers, academicians, and all those working in the area of international development. A copublication of the World Bank and Oxford University Press.
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Page 132 - Not merely as a feature of the transition, but as a permanent arrangement, the plan accords to every member Government the explicit right to control all capital movements. What used to be a heresy is now endorsed as orthodox.
Page 27 - The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
Page 217 - The restriction index is constructed using information from the International Monetary Fund's Annual Report on Exchange Arrangements and Exchange Restrictions.
Page 169 - We must use time creatively, and forever realize that the time is always ripe to do right.
Page 223 - A country grants its citizens political rights when it permits them to form political parties that represent a significant range of voter choice and whose leaders can openly compete for and be elected to positions of power in government. A country upholds its citizens...
Page 137 - They define (public) governance as the exercise of authority through formal and informal traditions and institutions for the common good...
Page 132 - Provided that the innocent current transactions are let through, there is nothing in the plan to prevent this. In fact, it is encouraged. It follows that our right to control the domestic capital market is secured on firmer foundations than ever before, and is formally accepted as a proper part of agreed international arrangements.
Page 227 - The unobserved components model expresses the observed data in each cluster as a linear function of the unobserved common component of governance, plus a disturbance term capturing perception errors and/or sampling variation in each indicator.