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Alev Ozkan

Superintendencia de Bancos de la Republica Dominicana

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Should we assess the quality of economic growth? If so, do you think we should use this as an additinal indicator to economic growth?

Klaus Schwab, founder and president of the World Economic Forum, finally (after 40 years) mentioned that "we should not only by focusing on growth rates and market penetration, but also, equally — if not more importantly — by assessing the quality of economic growth". I do believe the quality of economic growth is more important than the quantity. The growth focuses on narrow economic variables. I also believe that economic good growth should reduce poverty, create less inequality and create jobs. In many countries, especially in the developing countries, we see growth but the effectioveness of the growth is usually very low. So, do we need another indicator i.e quality of economic growth? If so,what should we include in the assesement criterias? I have some like: income distrubution, education quality, health quality, gender equality, crime rate, child mortality etc..

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  • Feb 1 2012: One thing that might work as indicator of the quality of economic growth is the welath disparity beween richest and the poorest. From our current debates here in the US, and from reading about the issue in other countries, I think the more balanced the growth is the more stable the economic system.

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