This innovative book investigates the practical applications of sustainable development in the spirit of the Brundtland Report, paying special attention to water-stressed developing countries. Satoshi Kojima argues that the main objective of sustainable development is poverty alleviation within the present generation without destroying those ecosystems underpinning life support systems. The policy implications of such sustainable development policies are investigated with an original quantitative policy analysis framework. The book develops an innovative dynamic optimisation CGE model based on the Ramsey growth model but employs an imperfect foresight assumption and a decentralised setting in which the private agent and the government optimise their objective functions separately. The model also addresses trade-offs between rain-fed and irrigated agriculture, urban unemployment due to rural-urban migration and welfare costs of lack of safe water access. The model is calibrated and dynamically validated against Moroccan time-series data. Researchers in environmental, ecological and development economics will find this book of great interest. It will also appeal to researchers and scholars interested in water management and related issues.