Publication: 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 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.
“Canuto, Otaviano. 2010. Toward a Switchover of Locomotives in the Global Economy. Economic Premise; No. 33. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/6f007359-409d-5268-90a5-e52287305bdd License: CC BY 3.0 IGO.”