Finance and Development, March 2017.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. External Relations Dept.

Series:

Finance & Development; Finance & Development No 0054/001

Finance & Development

Language:

English

Subjects (All):

Finance.

Physical Description:

1 online resource (60 pages) : color illustrations, photographs

Other Title:

Finance and development

Place of Publication:

Washington, D.C. : International Monetary Fund, 2017.

Summary:

This paper reports about current mainstream growth projections for the United States and the European Union over the medium term represent a marked slowdown from growth rates in the decades prior to the global financial crisis. Slower growth in Europe and the United States has mixed implications for growth prospects in developing economies. Most obviously, on the negative side, it means less demand for these countries’ exports, so models of development based on export-led growth may need to be rethought. In contrast, for Western Europe the narrative is about catch-up growth rather than the rate of cutting-edge technological progress. From the middle of the 20th century to the recent global crisis, this experience comprised three distinct phases. European medium-term growth prospects depend both on how fast productivity grows in the United States and whether catch-up growth can resume after a long hiatus. Economic historians see social capability as a key determinant of success or failure in catch-up growth.

Notes:

Description based on online resource; title from PDF title page (ebrary, viewed April 4, 2017).

ISBN:

9781475577211

1475577214

9781475577365

1475577362

OCLC:

979248857