Kanbur, RaviSpence, Michael2012-03-192012-03-192010978-0-8213-8180-9https://hdl.handle.net/10986/2458The commission on growth and development was established in April 2006 in response to two insights: people do not talk about growth enough, and when they do, they speak with unearned conviction. The workshops turned out to be intense, lively affairs, lasting up to three days. It became clear that experts do not always agree, even on issues that are central to growth. But the Commission had no wish to disguise or gloss over these uncertainties and differences. And it did not want to present a false confidence in its conclusions beyond that justified by the evidence. While researchers will continue to improve people's understanding of the world, policy makers cannot wait for scholars to satisfy all of their doubts or resolve their differences. Decisions must be made with only partial knowledge of the world. One consequence is that most policy decisions, however well informed, take on the character of experiments, which yield useful information about the way the world works, even if they do not always turn out the way policy makers had hoped. It is good to recognize this fact, if only so that policy makers can be quick to spot failures and learn from mistakes. In principle, a commission on growth could have confined its attention to income per person, setting aside the question of how income is distributed. But this commission chose otherwise. It recognized that growth is not synonymous with development. To contribute significantly to social progress, growth must lift everyone's sights and improve the living standards of a broad swath of society. The Commission has no truck with the view that growth only enriches the few, leaving poverty undisturbed and social ills untouched.CC BY 3.0 IGOABSOLUTE POVERTYADVANCED COUNTRIESAGRICULTURAL DEVELOPMENTAGRICULTURAL PRODUCTIONAGRICULTURAL RESEARCHAID DONORSAID EFFECTIVENESSARBITRATIONBANK LENDINGBONDBONDSBRAIN DRAINBUSINESS CLIMATESCAPACITY BUILDINGCAPITAL ACCUMULATIONCAPITAL FLOWSCAPITAL MARKETSCATALYST ROLECENTRAL BANKSCHECKSCHILD MORTALITYCLIMATE CHANGECOMMERCIAL BANKCOMMERCIAL BANK LENDINGCOMMERCIAL BANK LOANSCOMMODITIESCOMMODITYCOMMODITY PRICESCOMMUNICATION TECHNOLOGIESCONFLICTCONNECTIVITYCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCOUNTRY MARKETSCREATION OF JOBSDEBTDEBT FLOWSDEBT ISSUANCEDEBT RELIEFDEFAULT RISKDEFICITSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDEVELOPMENT BANKDEVELOPMENT FINANCEDIGITAL DIVIDESDISTRIBUTION OF INCOMEDOMESTIC CURRENCYECONOMIC DEVELOPMENTECONOMIC GROWTHECONOMIC REFORMECONOMIC STRENGTHENVIRONMENTAL CONCERNSEPZEQUIPMENTEQUITABLE ACCESSEQUITY FLOWSEQUITY INSTRUMENTSEQUITY INVESTMENTEQUITY PORTFOLIOEQUITY PORTFOLIO INVESTMENTEQUITY PORTFOLIO INVESTMENTSEXCHANGE RATEEXCHANGE RATE REGIMESEXPORT GROWTHEXPORT MARKETSEXPORT PROCESSING ZONEEXPORT PROCESSING ZONESEXPORTEREXPORTERSEXTERNAL DEBTEXTREME POVERTYEXTREMELY POOR PEOPLEFINANCE COMPANYFINANCE CORPORATIONFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL INSTRUMENTSFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICESFINANCIAL SYSTEMSFLEXIBLE INTEREST RATESFOOD CROPSFOREIGN CURRENCIESFOREIGN DIRECT INVESTMENTFOREIGN INVESTMENTFOREIGN INVESTMENT FLOWSFOREIGN INVESTORSFREE TRADEFREE TRADE AGREEMENTGLOBAL ECONOMYGLOBAL EFFICIENCYGLOBAL EXPORTGLOBAL FINANCEGLOBAL POVERTYGLOBAL PUBLIC GOODSGLOBAL RISKSGLOBAL TRADEGLOBALIZATIONGOVERNANCE PRACTICESGOVERNMENT DEBTGROSS DOMESTIC PRODUCTGROSS NATIONAL PRODUCTHOLDINGSHOME COUNTRIESHOST COUNTRYHUMAN CAPITALHUMAN RIGHTSILLITERACYIMMUNIZATIONSIMPACT ON POVERTYINCOMEINCOME DISTRIBUTIONINCOME LEVELINCOME POVERTYINCOMESINEQUALITYINFORMATION FLOWSINFORMATION TECHNOLOGYINSURANCEINTELLECTUAL PROPERTYINTERNATIONAL BANKINTERNATIONAL DEVELOPMENTINTERNATIONAL ECONOMICSINTERNATIONAL ECONOMYINTERNATIONAL FINANCEINTERNATIONAL INVESTORSINTERNATIONAL SETTLEMENTSINTERNATIONAL TRADEINVENTORIESINVESTMENT BANKINVESTMENT CLIMATEINVESTMENT CORPORATIONJOB CREATIONLACK OF EDUCATIONLEGAL RIGHTSLIFE EXPECTANCIESLIFE EXPECTANCYLLCLOANLOCAL CAPACITYLOW-INCOME COUNTRIESLOW-INCOME COUNTRYMALNUTRITIONMARKET ACCESSMARKET COMPETITIONMARKET ECONOMYMARKET FAILURESMICRO FINANCEMICRO FINANCE INSTITUTIONMICROFINANCEMIDDLE-INCOME COUNTRIESMIDDLE-INCOME COUNTRYMIGRANT LABORMISMANAGEMENTMONETARY FUNDNATURAL DISASTERSNATURAL RESOURCESOPEN ECONOMIESOUTPUTPOORPOOR CHILDRENPOOR COUNTRIESPOOR HEALTHPOOR PEOPLEPOOR PRODUCERSPORTFOLIOPORTFOLIO INVESTMENTPORTFOLIO INVESTMENTSPOVERTY ALLEVIATIONPOVERTY INCIDENCEPOVERTY INDICATORSPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPOWER PARITYPRIVATE CAPITALPRIVATE CAPITAL FLOWSPRIVATE INVESTMENTPRIVATE MARKETPUBLIC INVESTMENTPUBLIC POLICYPURCHASING POWERRAPID EXPANSIONRAPID GROWTHREMITTANCEREMITTANCESRURALSAFETY NETSSAVINGSSETTLEMENTSKILLED WORKERSSMALL BUSINESSSMALL BUSINESS DEVELOPMENTSOCIAL SAFETY NETSSTOCK EXCHANGESUSTAINABLE DEVELOPMENTSUSTAINABLE GROWTHTARGETINGTECHNICAL ASSISTANCETRADE DEFICITSTRADE FINANCETRADE LIBERALIZATIONTRADINGTRADING SYSTEMTRANSACTIONS COSTSTRANSFER OF FUNDSTRANSPARENCYURBANIZATIONVOLATILE CAPITALVOLATILITYWARWORLD ECONOMYWORLD MARKETWORLD TRADEWorld Bank10.1596/978-0-8213-8180-9