The Quality of Growth

Human, natural, and physical capital assets are a country's main resources for growth and welfare improvements. Their distribution, growth and productivity largely determine people's income and welfare. The poor rely on human and natural capital in addition to physical capital, so the accumulation and productivity of these assets have a strong impact on poverty. Growth based on relatively undistorted or balanced accumulation is likely to be less volatile and to be sustained over the long term. We provide evidence on improving the distribution of opportunities, sustaining the natural capital, dealing with global financial crises, and improving governance and fighting corruption. These evidence focuses on the experiences of 1990s. This book was translated into ten languages and a new Chinese edition is coming soon