Polyhydroxycarboxylic acid and its production process

Polyhydroxycarhoxylic acids are provided, which are controlled in terms of the rate of biodegradability, and give molded or otherwise formed articles that are of uniform quality with neither premature strength drop nor premature deterioration of retention of outside shape, and their production process is provided as well. The poly-hydroxycarboxylic acids are obtained by ring-opening polymerization of cyclic esters. The polyhydroxy-carboxylic acids have a weight-average molecular weight (Mw) in the range of 10,000 to 1,000,000, a molecular weight distribution in the range of 1.0 to 2.5 as represented by the weight-average molecular weight-to-number-average molecular weight ratio (Mw/Mn) and a yellowness index (YI) of 40 or less, and have a precisely controlled rate of biodegradability.