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 eco...

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Main Author:	Canuto, Otaviano
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVANCED COUNTRIES ADVANCED COUNTRY ADVANCED ECONOMIES ADVERSE IMPACT ASSET PRICES BALANCE SHEETS COMMODITIES COMMODITY COMMUNICATION TECHNOLOGIES COMPLEMENTARY FACTORS CONSUMER SPENDING CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT RATIOS DEFICITS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT STRATEGY DIVERSIFICATION DOMESTIC DEMAND DOMESTIC POLICIES ECONOMIC ACTIVITIES ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC POLICY EMERGING MARKETS EQUITY PRICE EXCHANGE RATE EXCHANGE RATE FLUCTUATIONS EXCHANGE RATES EXPENDITURES EXPORT GROWTH FINANCIAL CRISIS FINANCIAL FRAGILITY FINANCIAL INTEGRATION FINANCIAL INTERMEDIATION FINANCIAL SECTOR FISCAL CONSOLIDATION FISCAL POLICY FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREQUENCY DISTRIBUTION GLOBAL ECONOMY GLOBAL GROSS DOMESTIC PRODUCT GLOBAL TRADE GLOBALIZATION GOVERNANCE MECHANISMS GOVERNMENT DEBT GROSS DEBT GROWTH PERFORMANCE GROWTH PERIOD GROWTH PROSPECTS GROWTH RATES GROWTH VOLATILITY HIGH GROWTH HUMAN CAPITAL INCOME INCOME COUNTRIES INCOMES INDEBTED HOUSEHOLDS INDIVIDUAL COUNTRY GROWTH RATES INDUSTRIAL POLICY INSTITUTIONAL CHANGES INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL TRADE INVESTING INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES LABOR FORCE LABOR MARKETS LIBERALIZATION LIQUIDITY LOCAL MARKET LOCAL MARKETS LONG-TERM GROWTH LOW INCOME MACROECONOMIC UNCERTAINTY MARGINAL RETURNS MARKET PRICES MARKET SIZE MEDIUM TERM MONETARY FUND MONETARY POLICY NATURAL RESOURCE NATURAL RESOURCES OUTPUT OUTPUT GROWTH POLICY ENVIRONMENT POLICY REFORMS POSITIVE GROWTH POVERTY REDUCTION POVERTY REDUCTION POLICIES POWER PARITY PRIMARY DEFICITS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CONSUMPTION PRIVATE SECTOR PUBLIC DEBT PUBLIC SECTOR PURCHASING POWER REAL EXCHANGE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATES RELATIVE DEMAND REMITTANCES RETURN RURAL AREAS SAVING RATE SAVINGS SAVINGS RATE SHORT-TERM INTEREST RATES SOCIAL PROTECTION TECHNOLOGICAL CHANGES TECHNOLOGY TRANSFER TRADE OPENNESS TRADE POLICY TRADING VOLATILITY WORLD ECONOMY YIELD CURVE
Online Access:	http://documents.worldbank.org/curated/en/2010/09/12818104/toward-switchover-locomotives-global-economy http://hdl.handle.net/10986/10159

id	okr-10986-10159
recordtype	oai_dc
spelling	okr-10986-101592021-04-23T14:02:49Z Toward a Switchover of Locomotives in the Global Economy Canuto, Otaviano ADVANCED COUNTRIES ADVANCED COUNTRY ADVANCED ECONOMIES ADVERSE IMPACT ASSET PRICES BALANCE SHEETS COMMODITIES COMMODITY COMMUNICATION TECHNOLOGIES COMPLEMENTARY FACTORS CONSUMER SPENDING CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT RATIOS DEFICITS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT STRATEGY DIVERSIFICATION DOMESTIC DEMAND DOMESTIC POLICIES ECONOMIC ACTIVITIES ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC POLICY EMERGING MARKETS EQUITY PRICE EXCHANGE RATE EXCHANGE RATE FLUCTUATIONS EXCHANGE RATES EXPENDITURES EXPORT GROWTH FINANCIAL CRISIS FINANCIAL FRAGILITY FINANCIAL INTEGRATION FINANCIAL INTERMEDIATION FINANCIAL SECTOR FISCAL CONSOLIDATION FISCAL POLICY FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREQUENCY DISTRIBUTION GLOBAL ECONOMY GLOBAL GROSS DOMESTIC PRODUCT GLOBAL TRADE GLOBALIZATION GOVERNANCE MECHANISMS GOVERNMENT DEBT GROSS DEBT GROWTH PERFORMANCE GROWTH PERIOD GROWTH PROSPECTS GROWTH RATES GROWTH VOLATILITY HIGH GROWTH HUMAN CAPITAL INCOME INCOME COUNTRIES INCOMES INDEBTED HOUSEHOLDS INDIVIDUAL COUNTRY GROWTH RATES INDUSTRIAL POLICY INSTITUTIONAL CHANGES INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL TRADE INVESTING INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES LABOR FORCE LABOR MARKETS LIBERALIZATION LIQUIDITY LOCAL MARKET LOCAL MARKETS LONG-TERM GROWTH LOW INCOME MACROECONOMIC UNCERTAINTY MARGINAL RETURNS MARKET PRICES MARKET SIZE MEDIUM TERM MONETARY FUND MONETARY POLICY NATURAL RESOURCE NATURAL RESOURCES OUTPUT OUTPUT GROWTH POLICY ENVIRONMENT POLICY REFORMS POSITIVE GROWTH POVERTY REDUCTION POVERTY REDUCTION POLICIES POWER PARITY PRIMARY DEFICITS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CONSUMPTION PRIVATE SECTOR PUBLIC DEBT PUBLIC SECTOR PURCHASING POWER REAL EXCHANGE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATES RELATIVE DEMAND REMITTANCES RETURN RURAL AREAS SAVING RATE SAVINGS SAVINGS RATE SHORT-TERM INTEREST RATES SOCIAL PROTECTION TECHNOLOGICAL CHANGES TECHNOLOGY TRANSFER TRADE OPENNESS TRADE POLICY TRADING VOLATILITY WORLD ECONOMY YIELD CURVE 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. 2012-08-13T10:35:26Z 2012-08-13T10:35:26Z 2010-09 http://documents.worldbank.org/curated/en/2010/09/12818104/toward-switchover-locomotives-global-economy http://hdl.handle.net/10986/10159 English Economic Premise; No. 33 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ADVANCED COUNTRIES ADVANCED COUNTRY ADVANCED ECONOMIES ADVERSE IMPACT ASSET PRICES BALANCE SHEETS COMMODITIES COMMODITY COMMUNICATION TECHNOLOGIES COMPLEMENTARY FACTORS CONSUMER SPENDING CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT RATIOS DEFICITS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT STRATEGY DIVERSIFICATION DOMESTIC DEMAND DOMESTIC POLICIES ECONOMIC ACTIVITIES ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC POLICY EMERGING MARKETS EQUITY PRICE EXCHANGE RATE EXCHANGE RATE FLUCTUATIONS EXCHANGE RATES EXPENDITURES EXPORT GROWTH FINANCIAL CRISIS FINANCIAL FRAGILITY FINANCIAL INTEGRATION FINANCIAL INTERMEDIATION FINANCIAL SECTOR FISCAL CONSOLIDATION FISCAL POLICY FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREQUENCY DISTRIBUTION GLOBAL ECONOMY GLOBAL GROSS DOMESTIC PRODUCT GLOBAL TRADE GLOBALIZATION GOVERNANCE MECHANISMS GOVERNMENT DEBT GROSS DEBT GROWTH PERFORMANCE GROWTH PERIOD GROWTH PROSPECTS GROWTH RATES GROWTH VOLATILITY HIGH GROWTH HUMAN CAPITAL INCOME INCOME COUNTRIES INCOMES INDEBTED HOUSEHOLDS INDIVIDUAL COUNTRY GROWTH RATES INDUSTRIAL POLICY INSTITUTIONAL CHANGES INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL TRADE INVESTING INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES LABOR FORCE LABOR MARKETS LIBERALIZATION LIQUIDITY LOCAL MARKET LOCAL MARKETS LONG-TERM GROWTH LOW INCOME MACROECONOMIC UNCERTAINTY MARGINAL RETURNS MARKET PRICES MARKET SIZE MEDIUM TERM MONETARY FUND MONETARY POLICY NATURAL RESOURCE NATURAL RESOURCES OUTPUT OUTPUT GROWTH POLICY ENVIRONMENT POLICY REFORMS POSITIVE GROWTH POVERTY REDUCTION POVERTY REDUCTION POLICIES POWER PARITY PRIMARY DEFICITS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CONSUMPTION PRIVATE SECTOR PUBLIC DEBT PUBLIC SECTOR PURCHASING POWER REAL EXCHANGE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATES RELATIVE DEMAND REMITTANCES RETURN RURAL AREAS SAVING RATE SAVINGS SAVINGS RATE SHORT-TERM INTEREST RATES SOCIAL PROTECTION TECHNOLOGICAL CHANGES TECHNOLOGY TRANSFER TRADE OPENNESS TRADE POLICY TRADING VOLATILITY WORLD ECONOMY YIELD CURVE
spellingShingle	ADVANCED COUNTRIES ADVANCED COUNTRY ADVANCED ECONOMIES ADVERSE IMPACT ASSET PRICES BALANCE SHEETS COMMODITIES COMMODITY COMMUNICATION TECHNOLOGIES COMPLEMENTARY FACTORS CONSUMER SPENDING CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT RATIOS DEFICITS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT STRATEGY DIVERSIFICATION DOMESTIC DEMAND DOMESTIC POLICIES ECONOMIC ACTIVITIES ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC POLICY EMERGING MARKETS EQUITY PRICE EXCHANGE RATE EXCHANGE RATE FLUCTUATIONS EXCHANGE RATES EXPENDITURES EXPORT GROWTH FINANCIAL CRISIS FINANCIAL FRAGILITY FINANCIAL INTEGRATION FINANCIAL INTERMEDIATION FINANCIAL SECTOR FISCAL CONSOLIDATION FISCAL POLICY FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREQUENCY DISTRIBUTION GLOBAL ECONOMY GLOBAL GROSS DOMESTIC PRODUCT GLOBAL TRADE GLOBALIZATION GOVERNANCE MECHANISMS GOVERNMENT DEBT GROSS DEBT GROWTH PERFORMANCE GROWTH PERIOD GROWTH PROSPECTS GROWTH RATES GROWTH VOLATILITY HIGH GROWTH HUMAN CAPITAL INCOME INCOME COUNTRIES INCOMES INDEBTED HOUSEHOLDS INDIVIDUAL COUNTRY GROWTH RATES INDUSTRIAL POLICY INSTITUTIONAL CHANGES INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL TRADE INVESTING INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES LABOR FORCE LABOR MARKETS LIBERALIZATION LIQUIDITY LOCAL MARKET LOCAL MARKETS LONG-TERM GROWTH LOW INCOME MACROECONOMIC UNCERTAINTY MARGINAL RETURNS MARKET PRICES MARKET SIZE MEDIUM TERM MONETARY FUND MONETARY POLICY NATURAL RESOURCE NATURAL RESOURCES OUTPUT OUTPUT GROWTH POLICY ENVIRONMENT POLICY REFORMS POSITIVE GROWTH POVERTY REDUCTION POVERTY REDUCTION POLICIES POWER PARITY PRIMARY DEFICITS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CONSUMPTION PRIVATE SECTOR PUBLIC DEBT PUBLIC SECTOR PURCHASING POWER REAL EXCHANGE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATES RELATIVE DEMAND REMITTANCES RETURN RURAL AREAS SAVING RATE SAVINGS SAVINGS RATE SHORT-TERM INTEREST RATES SOCIAL PROTECTION TECHNOLOGICAL CHANGES TECHNOLOGY TRANSFER TRADE OPENNESS TRADE POLICY TRADING VOLATILITY WORLD ECONOMY YIELD CURVE Canuto, Otaviano Toward a Switchover of Locomotives in the Global Economy
relation	Economic Premise; No. 33
description	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.
format	Publications & Research :: Brief
author	Canuto, Otaviano
author_facet	Canuto, Otaviano
author_sort	Canuto, Otaviano
title	Toward a Switchover of Locomotives in the Global Economy
title_short	Toward a Switchover of Locomotives in the Global Economy
title_full	Toward a Switchover of Locomotives in the Global Economy
title_fullStr	Toward a Switchover of Locomotives in the Global Economy
title_full_unstemmed	Toward a Switchover of Locomotives in the Global Economy
title_sort	toward a switchover of locomotives in the global economy
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2010/09/12818104/toward-switchover-locomotives-global-economy http://hdl.handle.net/10986/10159
_version_	1764412067249389568

Toward a Switchover of Locomotives in the Global Economy

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