Title Global Economic Prospects, January 2020
Subtitle Slow Growth, Policy Challenges
Author World Bank Group
ISBN 9781464814686
List price USD 35.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 334
Book size 216 x 279 mm
Publishing year 2020
Original publisher The World Bank
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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Global growth is projected to be slightly faster in 2020 than the post-crisis low registered last year. While growth could be stronger if reduced trade tensions lead to a sustained reduction in uncertainty, the balance of risks to the outlook is to the downside. Growth in emerging market and developing economies is also expected to remain subdued, continuing a decade of disappointing outcomes. A steep and widespread productivity growth slowdown has been underway in these economies since the global financial crisis, despite the largest, fastest, and most broad-based accumulation of debt since the 1970s. In addition, many emerging market and developing economies, including low-income countries, face the challenge of phasing out price controls that impose heavy fiscal cost and dampen investment. These circumstances add urgency to the need to implement measures to rebuild macroeconomic policy space and to undertake reforms to rekindle productivity growth. These efforts need to be supplemented by policies to promote inclusive and sustainable long-term growth and accelerate poverty alleviation.

Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.




Executive Summary


Chapter 1. Global Outlook: Fragile, Handle with Care • Summary • Major economies: Recent developments and outlook • United States • Euro Area • Japan • China • Global trends • Global trade • Financial markets • Commodity markets • Emerging market and developing economies • Recent developments • Outlook • Risks to the outlook • Summary of global outlook and risks • Rising trade barriers and protracted policy uncertainty • A deepening slowdown in major economies • Financial stress in EMDEs • Geopolitical and region-specific downside risks • Upside risks • Policy challenges • Challenges in advanced economies • Challenges in emerging market and developing economies • Box 1.1 Recent developments and outlook for low-income countries • Box 1.2 Regional perspectives: Recent developments and outlook • References

Special Focus 1. Price Controls: Good Intentions, Bad Outcomes • Introduction • Use of price controls • Challenges of price controls • Policy implications • References

Chapter 2. Regional OutlooksEast Asia and Pacific • Recent developments • Outlook • Risks • Box 2.1.1 Labor productivity in East Asia and Pacific: Trends and drivers • Europe and Central Asia • Recent developments • Outlook • Risks • Box 2.2.1 Labor productivity in Europe and Central Asia: Trends and drivers • Latin America and the Caribbean • Recent developments • Outlook • Risks • Box 2.3.1 Labor productivity in Latin America and the Caribbean: Trends and drivers • Middle East and North Africa • Recent developments • Outlook • Risks • Box 2.4.1 Labor productivity in the Middle East and North Africa: Trends and drivers • South Asia • Recent developments • Outlook • Risks • Box 2.5.1 Labor productivity in South Asia: Trends and drivers • Sub-Saharan Africa • Recent developments • Outlook • Risks • Box 2.6.1 Labor productivity in Sub-Saharan Africa: Trends and drivers • References

Special Focus 2. Low for How Much Longer? Inflation in Low-Income Countries • Introduction • Evolution of inflation • Factors supporting inflation developments • Monetary policy challenges • Policy options going forward • References

Chapter 3. Fading Promise: How to Rekindle Productivity Growth • Introduction • Evolution of labor productivity growth • Labor productivity convergence • Sources of post-crisis slowdown in labor productivity growth • Long-run drivers of productivity growth • Prospects for productivity growth • Policy implications • Box 3.1 EMDE regional productivity trends and bottlenecks • Box 3.2 Sectoral sources of productivity growth • Box 3.3 Patterns of total factor productivity: a firm perspective • Box 3.4 Debt, financial crises, and productivity • Annex 3.1 Challenges of productivity measurement • Annex 3.2 Data and growth accounting approach. • Annex 3.3 Drivers of productivity • Annex 3.4 Data and methodology for sectoral productivity • Annex 3.5 Methodology for Box 3.3 • Annex 3.6 Local projection methodology for Box 3.4 • References

Chapter 4. The Fourth Wave: Rapid Debt Buildup • Introduction • Evolution of past waves of debt • The current wave of debt in historical context • Rapid debt accumulation episodes • What comes next? • Seven lessons • Policy implications • Box 4.1 Similarities and differences between the previous three waves • Box 4.2 The fourth wave • Box 4.3 Debt and crises • Annex 4.1 Event study methodology • Annex 4.2 Regression methodology • Annex 4.3 Case studies • References

Statistical Appendix

Selected Topics



Target Audience:

This book is for the people interested in global economy and economic growth.

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