López, Ramón E.Thomas, VinodWang, Yan2017-09-072017-09-072008978-1-60244-095-1https://hdl.handle.net/10986/28198The 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.en-USCC BY 3.0 IGOABATEMENTACCOUNTABILITYACCOUNTINGACCUMULATION OF CAPITALAGRICULTURAL SUBSIDIESAIR POLLUTIONAIR QUALITYALLOCATIONANNUAL REPORTBANK LENDINGBASIC EDUCATIONBASIC SERVICESBENEFICIARIESBORROWERBUDGET RESOURCESCAPITAL ACCUMULATIONCAPITAL FLOWSCAPITAL FORMATIONCARBONCARBON DIOXIDECARBON DIOXIDE EMISSIONSCARBON EMISSIONSCARBON TAXESCASH TRANSFERCENTRAL GOVERNMENT SPENDINGCLIMATE CHANGECOMPOSITION OF GOVERNMENT SPENDINGCONCEPTUAL FRAMEWORKCORPORATE TAX RATECOUNTRY RISKCPICREDIT GUARANTEESCREDIT MARKETCREDIT MARKETSCREDIT SUBSIDIESCROWDING OUTDEBTDEFORESTATIONDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT BANKDIMINISHING RETURNSDIVIDENDSDRINKING WATERECONOMIC DOWNTURNECONOMIC EFFICIENCYECONOMIC GROWTHECONOMIC POLICIESECONOMIC POLICYECONOMIC WELFAREECONOMISTSELASTICITIESELECTRICITYEMISSIONSEMPIRICAL EVIDENCEEMPIRICAL STUDIESENVIRONMENTALENVIRONMENTAL DEGRADATIONENVIRONMENTAL PROBLEMSENVIRONMENTAL PROTECTIONENVIRONMENTAL QUALITYENVIRONMENTAL REGULATIONSEQUALIZATIONEVALUATION CAPACITYEVASIONEXCHANGE RATESEXPENDITUREEXPENDITURE POLICIESEXTERNALITIESFINANCIAL CAPITALFINANCIAL RESOURCESFISCAL DECENTRALIZATIONFISCAL DEFICITSFISCAL POLICIESFISCAL POLICYFISCAL SUSTAINABILITYFISCAL TRANSFERSFOREIGN INVESTORSFOSSIL FUELSGLOBAL DEVELOPMENT FINANCEGOVERNMENT BUDGETSGOVERNMENT EXPENDITUREGOVERNMENT EXPENDITURESGOVERNMENT FINANCEGOVERNMENT POLICIESGOVERNMENT POLICYGOVERNMENT REVENUEGOVERNMENT SPENDINGGOVERNMENT SUBSIDIESGROWTH RATEHEALTH CAREHEALTH SPENDINGHOUSEHOLD INCOMEHOUSEHOLD INCOMESHUMAN CAPITALHUMAN DEVELOPMENTINCIDENCE ANALYSESINCOME DISTRIBUTIONINCOME GROWTHINCOME INEQUALITIESINCOME INEQUALITYINCOME LEVELSINCOME TAXINCOME TAXESINFLATIONINFLATIONARY PRESSUREINFRASTRUCTURE INVESTMENTINFRASTRUCTURE SERVICESINSTITUTIONAL DEVELOPMENTINSTRUMENTINTEREST PAYMENTINTEREST PAYMENTSINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL STANDARDSINVESTINGINVESTMENT CHOICESLAND USELOANLOAN GUARANTEESLOCAL GOVERNMENTMACROECONOMIC CONTROLMACROECONOMIC POLICIESMACROECONOMIC STABILITYMARKET DISTORTIONSMARKET FAILUREMARKET FAILURESMARKET INCENTIVESMASS TRANSITMONETARY FUNDMULTILATERAL AGENCIESNATIONAL INCOMENATURAL CAPITALNATURAL RESOURCESOILPAYMENT OBLIGATIONSPERFORMANCE ASSESSMENTPERIODIC REVIEWSPERVERSE INCENTIVESPERVERSE SUBSIDIESPOLICY ENVIRONMENTPOLICY INSTRUMENTSPOLICY MAKERSPOLITICAL ECONOMYPOLLUTIONPOLLUTION CONTROLPOVERTY REDUCTIONPRIVATE CAPITALPRIVATE CAPITAL STOCKPRIVATE ECONOMYPRIVATE GOODSPRIVATE INVESTMENTPRIVATE INVESTMENTSPRIVATE SECTORPRODUCERSPRODUCTIVITY GROWTHPROGRAMSPROPERTY RIGHTSPROPERTY TAXESPUBLICPUBLIC DEBTPUBLIC EXPENDITUREPUBLIC EXPENDITURE PATTERNSPUBLIC EXPENDITURE REVIEWSPUBLIC EXPENDITURESPUBLIC FINANCEPUBLIC FUNDSPUBLIC GOODPUBLIC GOODSPUBLIC HEALTHPUBLIC INFRASTRUCTUREPUBLIC INVESTMENTPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR REFORMPUBLIC SPENDINGQUALITY OF EDUCATIONQUOTASRESOURCE MANAGEMENTREVENUE COLLECTIONSAFETY NETSSALES TAXESSOCIAL CAPITALSOCIAL EQUITYSOCIAL PROGRAMSSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SERVICESSTREETSSTRUCTURAL REFORMSSUBNATIONAL GOVERNMENTSSUSTAINABLE DEVELOPMENTSUSTAINABLE GROWTHTAXTAX BASETAX BURDENTAX CODESTAX COLLECTIONTAX EVASIONTAX EXEMPTIONSTAX POLICIESTAX POLICYTAX REFORMTAX REFORMSTAX REVENUETAX REVENUESTAX SYSTEMTAX SYSTEMSTAX TREATMENTTAXATIONTECHNOLOGICAL PROGRESSTERMS OF TRADETOTAL TAX REVENUETRADINGURBANIZATIONWAGE DIFFERENTIALSWATER POLLUTIONWorking PaperWorld Bank10.1596/978-1-60244-095-1