Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
Henry, Peter Blair
|Abstract:||From 1980 to 1992, emerging and developing countries grew by 3.4 percent per year. Their annual rate of growth increased to 5.4 percent between 1993 and 2012. No such increase occurred for advanced nations, whose average growth from 1980-2012 was roughly constant (excluding the impact of the 2008-09 Recession). Developing nations turned themselves around by embracing discipline—sustained commitment to a pragmatic and flexible growth strategy. Three illustrations of discipline through the lens of trade, fiscal, and debt reforms in the developing world offer relevant, practical lessons for recovery in advanced economies and continued catch-up growth in developing nations.|
|Rights:||Copyright Chari and Henry, 2014.|
|Appears in Collections:||Economics Working Papers|
Files in This Item:
|Henry_LearningFromDoers_Jan2014.pdf||61.01 kB||Adobe PDF||View/Open|
Items in FDA are protected by copyright, with all rights reserved, unless otherwise indicated.