Publication:
Potential Growth Prospects: Risks, Rewards, and Policies

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dc.contributor.authorKilic Celik,Sinem
dc.contributor.authorKose, M. Ayhan
dc.contributor.authorOhnsorge,Franziska
dc.date.accessioned2023-03-16T20:21:16Z
dc.date.available2023-03-16T20:21:16Z
dc.date.issued2023-03-10
dc.description.abstractPotential output growth around the world slowed over the past two decades. This slowdown is expected to continue in the remainder of the 2020s: global potential growth is projected to average 2.2 percent per year in 2022–30, 0.4 percentage point below its 2011-21 average. Emerging market and developing economies (EMDEs) will face an even steeper slowdown, of about 1.0 percentage point to 4.0 percent per year on average during 2022–30. The slowdown will be widespread, affecting most EMDEs and countries accounting for 70 percent of global GDP. Global potential growth over the remainder of this decade could be even slower than projected in the baseline scenario—by another 0.2–0.9 percentage point a year—if investment growth, improvements in health and education outcomes, or developments in labor markets disappoint, or if adverse events materialize. A menu of policy options is available to help reverse the trend of weakening economic growth, including policies to enhance physical and human capital accumulation; to encourage labor force participation by women and older adults; to improve the efficiency of public spending; and to mitigate and adapt to climate change, including infrastructure investment to facilitate the green transition.en
dc.identifierhttp://documents.worldbank.org/curated/en/099439203102334334/IDU01dc8e11c0d0ab047d80b7a60e220b64efa9d
dc.identifier.doi10.1596/1813-9450-10355
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39553
dc.languageEnglish
dc.rights.holderWorld Bank, Washington, DC
dc.subjectGROWTH EXPECTATIONS
dc.subjectPRODUCTION FUNCTION
dc.subjectHUMAN CAPITAL ACCUMULATION
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectEMERGING MARKETS
dc.subjectSLOW GROWTH
dc.titlePotential Growth Prospectsen
dc.title.subtitleRisks, Rewards, and Policiesen
dspace.entity.typePublication
okr.crossref.titlePotential Growth Prospects: Risks, Rewards, and Policies
okr.date.disclosure2023-03-10
okr.date.lastmodified2023-03-16T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099439203102334334/IDU01dc8e11c0d0ab047d80b7a60e220b64efa9d
okr.guid099439203102334334
okr.identifier.doi10.1596/1813-9450-10355
okr.identifier.doihttps://doi.org/10.1596/1813-9450-10355
okr.identifier.externaldocumentum34019197
okr.identifier.internaldocumentum34019197
okr.identifier.reportWPS10355
okr.import.id159
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099439203102334334/pdf/IDU01dc8e11c0d0ab047d80b7a60e220b64efa9d.pdfen
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Commodities
okr.topicSocial Development::Social Capital
okr.topicSocial Protections and Labor::Skills Development and Labor Force Training
okr.unitProspects Group (DECPG)
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