Macroeconomic policies have come under justifiable scrutiny because of their powerful and pervasive impacts throughout the economy. This book examines the sustainability of growth-oriented macroeconomic strategies, starting from early ideas linking macroeconomic policies, growth and sustainability. A comprehensive and up-to-date literature review and theoretical framework are presented, including both macroeconomic and microeconomic analyses of the linkages between the economy and the environment. Brazil and Chile are used as case studies to illuminate and analyse the impacts and effects of differing macroeconomic policies. A variety of analytical models are used to assess these two very different countries. One important conclusion reached is that the combination of growth and economic imperfections that lead to unsustainable outcomes is characterized by not only economic, but also environmental and >social problems. A variety of policy remedies are discussed to make development more sustainable by reshaping the structure of growth. Macroeconomists, environmental and development economists as well as policy analysts and project managers in the international development community will find much to engage them within this book. Development agencies, NGOs and graduate students interested in both the theory and applications of economic growth and sustainable development issues will also find the book of great interest.

This path-breaking book focuses on the theory and practice of economic development as viewed from the perspective of sustainability, and the implications of sustainability for development policy. It demonstrates how various indicators can be developed and used to determine whether or not an economy is on a sustainable path of development. The book is concerned with measuring sustainability in a macroeconomic context so that decision makers are more aware of the real trends in the economy and the way in which their policies may affect these trends. The discussion on such measurement includes: the physical indicators of sustainability, resource and environmental accounting, savings and the empirical measurement of sustainable development, international trade and unsustainable development, ecological indicators, income distribution and social needs, and the assessment of structural adjustment policies and their implications for sustainable development. The authors conclude that the first step towards sustainable development is for a greater awareness of the effects of development on the environment, and the environment on human well-being. Measuring Sustainable Development will be particularly welcomed by policymakers and practitioners as well as researchers, academics and students of development economics and environmental economics.