Macroeconomics and Economic Growth http://blogs.worldbank.org/growth/taxonomy/term/271/all en Secular Stagnation: A Working Pair of Scissors Needs Two Blades http://blogs.worldbank.org/growth/secular-stagnation-working-pair-scissors-needs-two-blades <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><img alt="" height="225" src="http://blogs.worldbank.org/growth/files/growth/Scissors.jpg" style="float:right" title="" width="300" />The role of asset bubbles as an unsustainable pillar of pre-2007 world economic growth has been widely recognized. Simultaneously, analysts worry that a secular stagnation, though momentarily offset by asset bubbles, may have been already at play in major advanced economies, leading to the ongoing <a href="http://www.economonitor.com/blog/2014/03/crisis-recovery-flying-on-a-single-engine/" rel="nofollow">sluggish and feeble recovery</a>.</div></div></div> Wed, 12 Mar 2014 14:18:00 +0000 Otaviano Canuto 8877 at http://blogs.worldbank.org/growth South Asia and the Geography of Poverty http://blogs.worldbank.org/growth/south-asia-and-geography-poverty <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img src="/growth/files/growth/south_asia_poverty.jpg" width="275" height="187" align="right" alt="" />The world has become <a href="http://www.huffingtonpost.com/otaviano-canuto/less-poor-but-more-unequa_b_1452369.html">relatively less poor</a> in the last few decades. People under conditions of extreme poverty -- that is, living on less than $1.25 per day -- have declined as a proportion of the world population, from 52 percent in 1981 to 22 percent in 2008. Thirty years ago almost 75 percent of the developing world lived with $2 a day or less, this number is down to 43 percent today.</p></div></div></div> Mon, 18 Mar 2013 16:43:43 +0000 Otaviano Canuto 8855 at http://blogs.worldbank.org/growth Gender Equality Pays Off in Brazil http://blogs.worldbank.org/growth/gender-equality-pays-brazil <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><span style="font-size: small; "><span style="font-family: Arial; "><img src="/growth/files/growth/gender_0.jpg" width="275" height="183" align="right" alt="" />Brazil’s success in reducing </span></span><span style="font-size: small; "><span style="font-family: Arial; "><a href="http://www.huffingtonpost.com/otaviano-canuto/bucking-the-trend-poverty_b_1574987.html">poverty and income inequality</a></span></span><span style="font-size: small; "><span style="font-family: Arial; "> has been widely reported in recent years.</span></span></p></div></div></div> Thu, 07 Mar 2013 15:16:12 +0000 Otaviano Canuto 8854 at http://blogs.worldbank.org/growth Brazilian Competitiveness: Folia and Hangover http://blogs.worldbank.org/growth/brazilian-competitiveness-folia-and-hangover <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><span style="font-size: small; "><span style="font-family: Arial; "><span style="line-height: 115%; "><img src="/growth/files/growth/user-pictures/brazil_blog.jpg" width="275" height="183" align="right" alt="" />As the Carnival in Brazil kicked off last weekend, Brazilians were ready for a party. They have reasons to celebrate. Despite a lackluster GDP performance in the last two years, unemployment rates remain at record low levels.</span></span></span></p></div></div></div> Tue, 12 Feb 2013 15:18:15 +0000 Otaviano Canuto 8852 at http://blogs.worldbank.org/growth In Times of Consecutive Crises, Is Fiscal Policy the Answer? http://blogs.worldbank.org/growth/times-consecutive-crises-fiscal-policy-answer <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="By flickr user prawnpie" src="/growth/files/growth/cliff_prawnpie_flickr.jpg" width="180" align="right" border="1" height="240" hspace="4" />In recent weeks, fiscal policy – once the domain of policy wonks – has become part of dinner-table conversations. As Washington attempts to put its fiscal house in order, catchy metaphors from "fiscal cliff" to "fiscal calamity" to "austerity bomb" (and even "hostage crisis") permeate the media.  Amidst the media spin and misnomers however, there lies a crucial debate.</p></div></div></div> Thu, 20 Dec 2012 20:57:26 +0000 Otaviano Canuto 8850 at http://blogs.worldbank.org/growth The East Asian Miracle 2.0 http://blogs.worldbank.org/growth/east-asian-miracle-20 <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="image" src="http://digitalmedia.worldbank.org/SSP/EAP/higher-education/600_450/8.jpg" width="300" align="right" border="1" height="225" hspace="4" />Almost 20 years ago, the World Bank released a groundbreaking report – <em><a href="http://documents.worldbank.org/curated/en/1993/09/698870/east-asian-miracle-economic-growth-public-policy-vol-1-2-main-report">The East Asian Miracle</a></em> – that called worldwide attention to the economic success of eight economies in the region, leading to a discussion on the extent to which policies followed by them could be replicated.</p></div></div></div> Mon, 26 Nov 2012 16:04:07 +0000 Otaviano Canuto 8848 at http://blogs.worldbank.org/growth Fighting Inequality to 'Bend the Arc' of History http://blogs.worldbank.org/growth/fighting-inequality-bend-arc-history <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="" src="http://siteresources.worldbank.org/COLUMBIAINSPANISHEXTN/Images/Libro_Oportunidades.jpg" align="right" border="1" hspace="4" />When World Bank <a title="Kim speech (pdf)" href="http://www.imf.org/external/am/2012/speeches/pr04e.pdf">President Jim Yong Kim addressed</a> the joint boards of governors of the Bank and the IMF in Tokyo last month, he took a powerful theme.</p></div></div></div> Fri, 02 Nov 2012 15:19:24 +0000 Otaviano Canuto 8842 at http://blogs.worldbank.org/growth Shifting Tectonic Plates under Global Banking http://blogs.worldbank.org/growth/shifting-tectonic-plates-under-global-banking <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>The global financial crisis has reversed an expansionary trend of international activities by banks from advanced countries that had been at play for decades. From the late 1970s to 2008, banks not only found new opportunities for intermediation in increasing cross-border capital flows, but they also raised their profile in domestic credit provision abroad. We are now watching an upheaval of that landscape, its ground dramatically shifting with the unfolding of the crisis.</p></div></div></div> Wed, 24 Oct 2012 16:32:23 +0000 Otaviano Canuto 8840 at http://blogs.worldbank.org/growth Connecting Wagons: Why and How to Help Lagging Regions Catch Up http://blogs.worldbank.org/growth/competitiveness-and-connectivity-integrating-lagging-regions-global-markets <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img src="http://farm9.staticflickr.com/8286/7556647004_103eb3635a.jpg" width="250" height="166" vspace="1" hspace="1" align="right" alt="" />If it weren't for the economic performance of China, Brazil and other emerging markets, the global economic slump following the 2008 financial crisis would have been much worse. Not by chance, prospects for the global economy became gloomier this year when those economies showed signs of decreasing resilience against the downward pull from advanced countries.</p></div></div></div> Wed, 17 Oct 2012 18:35:11 +0000 Otaviano Canuto 8837 at http://blogs.worldbank.org/growth Jobs as a Gateway to Prosperity http://blogs.worldbank.org/growth/jobs-gateway-prosperity <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><span style="font-size: small; "><span style="font-family: Verdana; "><span style="line-height: 115%; "><img src="http://siteresources.worldbank.org/EXTPREMNET/Images/489959-1303408223697/f1-20121004.jpg" alt="job trends roadworkers" width="250" height="136" hspace="4" border="1" align="right" />Global spotlights are on jobs. Headlines last Friday highlighted the US jobless rate, which fell to 7.8 percent, the lowest level in four years.</span></span></span></p></div></div></div> Wed, 10 Oct 2012 15:08:57 +0000 Otaviano Canuto 8835 at http://blogs.worldbank.org/growth Fiscal Policy for Shared Prosperity http://blogs.worldbank.org/growth/fiscal-policy-shared-prosperity <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img src="/growth/files/growth/ep91blog.jpg" alt="graph" width="220" align="right" border="1" height="109" hspace="3" />As part of their response to negative shocks coming from advanced economies after Lehman's collapse in 2008, most developing countries resorted to countercyclical fiscal policy.</p></div></div></div> Wed, 03 Oct 2012 16:06:35 +0000 Otaviano Canuto 8832 at http://blogs.worldbank.org/growth Like a Hummingbird – From Chile to Mongolia http://blogs.worldbank.org/growth/hummingbird-chile-mongolia <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="Mining" src="http://wbi.worldbank.org/sske/Data/wbi/wbicms/files/drupal-acquia/wbi/imagecache/250X350/Mongolia_Chile_Mining.jpg" width="179" align="right" border="1" height="250" hspace="3" />Increased cross-learning and cooperation among developing countries has been a remarkable feature of the global economy in recent decades.  It's been some time now since knowledge and technology flowed only from advanced economies ("North") to developing ones ("South").</p></div></div></div> Thu, 27 Sep 2012 15:00:55 +0000 Otaviano Canuto 8831 at http://blogs.worldbank.org/growth Not All That Glitters Is Gold http://blogs.worldbank.org/growth/not-all-glitters-gold <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="image" src="http://www.worldbank.org/content/dam/Worldbank/Highlights%20&amp;%20Features/ug-the-challenges-of-inclusive-growth-in-uganda-400x264.jpg" width="200" align="right" height="132" hspace="4" />Gross Domestic Product, better known as GDP, is the market value of all final goods and services produced within a country in a given period. That's why GDP per capita is widely used as a summary indicator of living standards in a country. No wonder we keep our eyes closely on its evolution and compare its levels among countries.<br /> </p></div></div></div> Wed, 19 Sep 2012 17:10:21 +0000 Otaviano Canuto 8830 at http://blogs.worldbank.org/growth Goodbye Financial Engineers, Hello Political Wonks http://blogs.worldbank.org/growth/goodbye-financial-engineers-hello-political-wonks <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img height="188" alt="" src="http://blogs.worldbank.org/growth/files/growth/800px-federal_reserve.jpeg" width="250" align="right" />This week marks the fifth anniversary of the global financial crisis. Five years ago, the world of finance was shocked when BNP Paribas announced a freeze of three of its money market funds that were undergoing a deadly run of withdrawals. At that moment, a huge pyramid of complex financial assets—then sustained as collateral accepted by banks and the “shadow banking system”—hedge funds and money market funds—started to crumble.</p></div></div></div> Thu, 09 Aug 2012 16:02:22 +0000 Otaviano Canuto 8828 at http://blogs.worldbank.org/growth Jobs as a Scorecard http://blogs.worldbank.org/growth/jobs-scorecard <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img src="http://blogs.worldbank.org/growth/files/growth/simone_d._mccourtie_world_bank.jpeg" alt="Photo: Simone McCourtie_World Bank" width="250" align="right" height="167" />Employment numbers released today by the World Bank shed some light on the resilience of job creation and job preservation heretofore exhibited in most emerging countries.</p></div></div></div> Thu, 26 Jul 2012 19:44:20 +0000 Otaviano Canuto 8826 at http://blogs.worldbank.org/growth