The Quality of GrowthVinod Thomas World Bank Publications, 2000 - 262 pages 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. |
From inside the book
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Page 31
... marginal productivity of capital — as capital stocks increase relative to other productive assets ( see annex 2 ) . Growth in Total Factor Productivity and Asset Accumulation So far most of the emphasis in this chapter has been on asset ...
... marginal productivity of capital — as capital stocks increase relative to other productive assets ( see annex 2 ) . Growth in Total Factor Productivity and Asset Accumulation So far most of the emphasis in this chapter has been on asset ...
Page 40
... marginal productivity of capital , given other asset levels , de- clines with increases in physical capital . Economies of scale and technological spillovers from investment in physical capital appar- ently may not be enough to offset ...
... marginal productivity of capital , given other asset levels , de- clines with increases in physical capital . Economies of scale and technological spillovers from investment in physical capital appar- ently may not be enough to offset ...
Page 41
... marginal effect of the stock of human capital on growth always increasing . • To sustain economic growth , human capital can to some extent substitute for natural capital , but physical capital may not . The growth rate of countries ...
... marginal effect of the stock of human capital on growth always increasing . • To sustain economic growth , human capital can to some extent substitute for natural capital , but physical capital may not . The growth rate of countries ...
Page 75
... marginal farmers ( see annex table A3.5 for a selective literature review ) . Widespread ownership of land improves not just equity , but also produc- tivity ( Berry and Cline 1979 ) and efficiency ( Banerjee 1999 ) . Better land rights ...
... marginal farmers ( see annex table A3.5 for a selective literature review ) . Widespread ownership of land improves not just equity , but also produc- tivity ( Berry and Cline 1979 ) and efficiency ( Banerjee 1999 ) . Better land rights ...
Page 85
... marginal changes in pollution , but then applied to nonmarginal changes , which tends to overestimate mortality reductions . Some studies use PPP - adjusted willingness to pay data from industrial economies ; others use the cost of ...
... marginal changes in pollution , but then applied to nonmarginal changes , which tends to overestimate mortality reductions . Some studies use PPP - adjusted willingness to pay data from industrial economies ; others use the cost of ...
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Common terms and phrases
annex assets average Bangladesh benefits billion capita income capital accumulation capital flows capital markets capture carbon dioxide chapter Chile China civil liberties corruption Costa Rica costs decline deforestation degradation developing countries distribution of education East Asia economic growth education Gini coefficient effects empirical environment environmental estimated factors figure financial openness firms forest framework function GDP growth Gini coefficient global growth rates human and natural human capital impact increase India indicators Indonesia institutions International investment Kaufmann Korea Kuznets curve land Latin America López marginal measures ment meritocracy natural capital natural resources nomic outcomes percent percentage physical capital political poor population poverty reduction private sector production programs protection public spending reduce reforms risks rule of law schooling significant social Source spillovers strategy subsidies sustainable development sustained growth tion transition economies transparency variables volatility Wang Washington welfare World Bank World Development
Popular passages
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 137 - ... the respect of citizens and the state for the institutions that govern economic and social interactions among them" (Kaufmann, Kraay and Zoido-Lobaton, 2002: 4-5).
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.
Page 209 - Significant at the 10 percent level. * * Significant at the 5 percent level. * * * Significant at the 1 percent level.