The Quality of Growth : Fiscal Policies for Better Results

The 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 rec...

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Bibliographic Details
Main Authors:	López, Ramón E., Thomas, Vinod, Wang, Yan
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC: World Bank 2017
Subjects:	ABATEMENT ACCOUNTABILITY ACCOUNTING ACCUMULATION OF CAPITAL AGRICULTURAL SUBSIDIES AIR POLLUTION AIR QUALITY ALLOCATION ANNUAL REPORT BANK LENDING BASIC EDUCATION BASIC SERVICES BENEFICIARIES BORROWER BUDGET RESOURCES CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL FORMATION CARBON CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CARBON EMISSIONS CARBON TAXES CASH TRANSFER CENTRAL GOVERNMENT SPENDING CLIMATE CHANGE COMPOSITION OF GOVERNMENT SPENDING CONCEPTUAL FRAMEWORK CORPORATE TAX RATE COUNTRY RISK CPI CREDIT GUARANTEES CREDIT MARKET CREDIT MARKETS CREDIT SUBSIDIES CROWDING OUT DEBT DEFORESTATION DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DIMINISHING RETURNS DIVIDENDS DRINKING WATER ECONOMIC DOWNTURN ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC WELFARE ECONOMISTS ELASTICITIES ELECTRICITY EMISSIONS EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENVIRONMENTAL ENVIRONMENTAL DEGRADATION ENVIRONMENTAL PROBLEMS ENVIRONMENTAL PROTECTION ENVIRONMENTAL QUALITY ENVIRONMENTAL REGULATIONS EQUALIZATION EVALUATION CAPACITY EVASION EXCHANGE RATES EXPENDITURE EXPENDITURE POLICIES EXTERNALITIES FINANCIAL CAPITAL FINANCIAL RESOURCES FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FISCAL SUSTAINABILITY FISCAL TRANSFERS FOREIGN INVESTORS FOSSIL FUELS GLOBAL DEVELOPMENT FINANCE GOVERNMENT BUDGETS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT POLICIES GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SPENDING GOVERNMENT SUBSIDIES GROWTH RATE HEALTH CARE HEALTH SPENDING HOUSEHOLD INCOME HOUSEHOLD INCOMES HUMAN CAPITAL HUMAN DEVELOPMENT INCIDENCE ANALYSES INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITIES INCOME INEQUALITY INCOME LEVELS INCOME TAX INCOME TAXES INFLATION INFLATIONARY PRESSURE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE SERVICES INSTITUTIONAL DEVELOPMENT INSTRUMENT INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL STANDARDS INVESTING INVESTMENT CHOICES LAND USE LOAN LOAN GUARANTEES LOCAL GOVERNMENT MACROECONOMIC CONTROL MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET DISTORTIONS MARKET FAILURE MARKET FAILURES MARKET INCENTIVES MASS TRANSIT MONETARY FUND MULTILATERAL AGENCIES NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCES OIL PAYMENT OBLIGATIONS PERFORMANCE ASSESSMENT PERIODIC REVIEWS PERVERSE INCENTIVES PERVERSE SUBSIDIES POLICY ENVIRONMENT POLICY INSTRUMENTS POLICY MAKERS POLITICAL ECONOMY POLLUTION POLLUTION CONTROL POVERTY REDUCTION PRIVATE CAPITAL PRIVATE CAPITAL STOCK PRIVATE ECONOMY PRIVATE GOODS PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE SECTOR PRODUCERS PRODUCTIVITY GROWTH PROGRAMS PROPERTY RIGHTS PROPERTY TAXES PUBLIC PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURE PATTERNS PUBLIC EXPENDITURE REVIEWS PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FUNDS PUBLIC GOOD PUBLIC GOODS PUBLIC HEALTH PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SPENDING QUALITY OF EDUCATION QUOTAS RESOURCE MANAGEMENT REVENUE COLLECTION SAFETY NETS SALES TAXES SOCIAL CAPITAL SOCIAL EQUITY SOCIAL PROGRAMS SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SERVICES STREETS STRUCTURAL REFORMS SUBNATIONAL GOVERNMENTS SUSTAINABLE DEVELOPMENT SUSTAINABLE GROWTH TAX TAX BASE TAX BURDEN TAX CODES TAX COLLECTION TAX EVASION TAX EXEMPTIONS TAX POLICIES TAX POLICY TAX REFORM TAX REFORMS TAX REVENUE TAX REVENUES TAX SYSTEM TAX SYSTEMS TAX TREATMENT TAXATION TECHNOLOGICAL PROGRESS TERMS OF TRADE TOTAL TAX REVENUE TRADING URBANIZATION WAGE DIFFERENTIALS WATER POLLUTION
Online Access:	http://documents.worldbank.org/curated/en/254571468339912673/The-quality-of-growth-fiscal-policies-for-better-results http://hdl.handle.net/10986/28198

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Summary:	The 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.

The Quality of Growth : Fiscal Policies for Better Results

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