The Day After Tomorrow: The Final Battle in the War Against Poverty
This is the third in a series of blogs where we take a look at the issues and the countries that will be at the forefront of the development…
Introduction – The Great Recession and Developing Countries : Economic Impact and Growth Prospects
While globalization has been a powerful engine of economic growth over the past three decades, it has also posed new problems and challenges, especially for international economic policy coordination. In the past decade, the large and rapid increases in trade, remittances, and international financial flows across borders have been a strong incentive for economic growth, not only in East and South Asia but also in Latin America and Sub-Saharan Africa. And rapid and sustained economic growth in several low- and middle-income economies has been steadily altering the economic weights of different regions in the world economy.
The Day After Tomorrow: Fiscal Quality
This is the second in a series of blogs where we take a look at the issues and the countries that will be at the forefront of the development…
The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World
While the rich world puts its house in order, developing countries are becoming a new engine of global growth and a pulling force for advanced economies, says a new book by World Bank economists. According to The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World, almost half of global growth is currently coming from developing countries. As a group, it is projected that their economic size will surpass that of their developed peers in 2015.
Technological Learning and Innovation: Climbing a Tall Ladder
As the global stock of ideas expands and diffuses across and within countries, technological learning is poised to become an even more important determinant of growth through its impact on innovation. This note reviews global trends that make a policy focus on technological learning and innovation more important than ever for developing countries. The note explores how the recent global financial crisis may affect these trends and outlines several implications of these trends for innovation policy moving forward. Developing countries would benefit from an increased policy emphasis on technological learning and the adoption of more efficient existing technologies to generate more and better jobs and higher standards of living.
Toward a Switchover of Locomotives in the Global Economy
The recovery in advanced economies is now exhibiting several signs of fragility and the medium-term growth prospects for these economies also look difficult. Could developing economies “switch over” to become locomotives in the global economy, providing a countervailing force against downward trends? The view taken here says, yes, as long as appropriate domestic policies and reforms are pursued in developing countries.
Challenges in the coming phase of globalisation: A sense of déjà vu
Otaviano Canuto, José Manuel Salazar 28 June 2010 (VoxEU) Economic integration transmitted the negative shocks of the crisis to workers across the world. As the global economic recovery begins, this column…
Dealing with Dutch disease
Vox EU The recent boom in primary commodity prices has once more stimulated interest in the issue of “Dutch Disease” – the changes in a country’s structure of production expected…
The World’s Worst Economies
Jun 9, 2010 The World's Worst Economies Ghana has the world's largest manmade lake and the 1-gigawatt Aksombo Hydroelectric Plant, built to supply electricity to Africa's largest aluminum smelter.…
Recoupling or Switchover
The current recovery in advanced economies is now exhibiting several signs of fragility. Their medium term growth prospects also look difficult. In this environment two questions arise: Will developing…
Paul Collier and his Plundering Planet: When Both Economists and Environmentalists Don’t Get it Right
Do you remember The Bottom Billion, Paul Collier’s 2007 book which became a classic? If you do, you will certainly like his latest work, The Plundered Planet. He came to launch…
No Safe Havens for Stolen Funds
Financial institutions must become a central part in efforts against theft to ensure there are no financial safe havens for stolen funds. They could begin by taking voluntary initiatives to show they are serious in ensuring that “corrupt money stays out of my bank!”
My Own View on Women
On Monday, the world marked International Women’s Day. As a husband and father of strong, wonderful women, I am always very much aware of the occasion. But as the Vice…
Export-Led Growth v2.0
The U.S. recession could hurt the South, particularly in oil and apparel exports, and Latin America and the Caribbean. But South-South trade is partly picking up the slack. Middle-income countries…
Stiglitz’s New Book and the Developing Countries
Joe Stiglitz, Nobel Laureate and former World Bank Chief Economist, is out again making headlines. This time because of his new book Freefall - America, Free Markets and the Sinking of the…