Publication: Global Economic Prospects Projects Soft Landing
Date
2001-02
ISSN
Published
2001-02
Author(s)
Aiyar, Swaminathan
Abstract
The World Bank's just-released
"Global Economic Prospects and the Developing Countries
2001" reports that developing country growth surged to
5.3 percent in 2000, up from 3.2 percent in 1999 and 1.0
percent in 1998. All developing regions experienced faster
growth, though to varying degrees. World growth is expected
to slow to a soft landing in 2001, reflecting monetary
tightening in industrial countries, stock market declines,
and high energy prices. Looking ahead, the potential for
long-term growth may have improved globally, improving
prospects for reducing poverty. But there are notable risks
to the outlook, including higher oil prices, further slides
in stock markets, and a U.S. recession. These developments
would seriously reduce developing countries' trade,
growth, and access to capital. They could also worsen
longer-term global performance if they lead countries to
retreat from reform and openness.
Citation
“Aiyar, Swaminathan. 2001. Global Economic Prospects Projects Soft Landing. PREM Notes; No. 52. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/11402?show=full License: CC BY 3.0 IGO.”