Past and future of regional potential growth : hopes, fears, and realities / Sergiy Kasyanenko [and five others].

Format:

Book

Author/Creator:

Kasyanenko, Sergiy, author.

Series:

Policy research working papers ; 10368.

Policy research working papers ; 10368

Language:

English

Subjects (All):

Climatic changes.

Physical Description:

1 online resource (108 pages).

Other Title:

Past and Future of Regional Potential Growth

Place of Publication:

Washington, District of Columbia : World Bank, 2023.

Summary:

Potential growth slowed in most emerging market and developing economy (EMDE) regions in the past decade. The steepest slowdown occurred in the Middle East and North Africa (MNA), followed by East Asia and the Pacific (EAP), although potential growth in EAP remained one of the two highest among EMDE regions, the other being South Asia (SAR), where potential growth remained broadly unchanged. Projections of the fundamental drivers of growth suggest that, without reforms, potential growth in EMDEs will continue to weaken over the remainder of this decade. The slowdown will be most pronounced in EAP and Europe and Central Asia because of slowing labor force growth and weak investment, and least pronounced in Sub-Saharan Africa where the multiple adverse shocks over the past decade are assumed to dissipate going forward. Potential growth in Latin America and the Caribbean, MNA, and SAR is expected to be broadly steady as slowing population growth is offset by strengthening productivity. The projected declines in potential growth are not inevitable. Many EMDEs could lift potential growth by implementing reforms, with policy priorities varying across regions.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/1813-9450-10368