Quality of growth can be considered as having three dimensions – as does sustainable development – environmental, social and economic. At the same time, five key determinants of a good quality of growth are proposed: 1. Inclusiveness in relation to environmental, social and economic benefits; 2. Efficiency and productivity of use of natural, human and manufactured capital; 3. Structural transformation that promotes social and economic values; 4. Balanced investment in all forms of capital; and 5. Limits in the economic, social and environmental spheres that are defined by a credible science, a strong science-policy interface and stakeholder dialogue. Different kinds of institutional and policy support is needed for each of these key determinants.
This publication provides a framework for quality of growth that can help policymakers and other stakeholders to assess and develop strategies for the system changes needed to shift to growth paths which are aligned with sustainable development. It can also support discussions on a transformative United Nations Development Agenda beyond 2015, as the period of the Millennium Development Goals comes to a close.