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Global Economic Prospects, June 2013

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  • World Bank

Abstract

The global economy appears to be transitioning toward a more stable period. Although acute risks have diminished, real-side activity remains sluggish – especially in high-income Europe. Most developing countries have fully recovered from the crisis. Although growth is slower than during the boom period, it is in line with underlying potential, and output is projected to pick up only gradually to around 5.8 percent by 2015. High unemployment and spare capacity remain pressing problems in developing Europe and the Middle East and North Africa. With a more stable external environment, new risks and challenges are gaining prominence, including the potential impact on exporting countries of a faster than anticipated decline in commodity prices, the possibility that the eventual withdrawal of quantitative easing exposes vulnerabilities in developing countries, and the need to resort increasingly to supply-side rather than demand stimulus policies to achieve stronger growth.

Suggested Citation

  • World Bank, 2013. "Global Economic Prospects, June 2013," World Bank Publications - Books, The World Bank Group, number 13892, December.
    • Handle: RePEc:wbk:wbpubs:13892
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/13892/GEP-June-2013.pdf?sequence=8
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    Cited by:

    1. S. Amer Ahmed & Marcio Cruz & Delfin S. Go & Maryla Maliszewska & Israel Osorio-Rodarte, 2016. "How Significant Is Sub-Saharan Africa's Demographic Dividend for Its Future Growth and Poverty Reduction?," Review of Development Economics, Wiley Blackwell, vol. 20(4), pages 762-793, November.
    2. John Baffes & M. Ayhan Kose & Franziska Ohnsorge & Marc Stocker, 2015. "The Great Plunge in Oil Prices: Causes, Consequences, and Policy Responses," Policy Research Notes (PRNs) 94725, The World Bank.
    3. Tatjana Boshkov & Gligor Bishev, 2015. "Impact of Exchange Rate in the Run-Up to EU Accession: An Empirical Analysis of Republic of Macedonia," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(12), pages 1282-1297, December.
    4. World Bank, 2013. "From Double-Dip Recession to Fragile Recovery," World Bank Publications - Reports 16559, The World Bank Group.
    5. Swapan K. Bhattacharya & Gouranga G. Das, 2014. "Can South–South Trade Agreements Reduce Development Deficits?," Journal of South Asian Development, , vol. 9(3), pages 253-285, December.
    6. Muneesh Kapur & Rakesh Mohan, 2014. "India’s Recent Macroeconomic Performance: An Assessment and Way Forward," IMF Working Papers 2014/068, International Monetary Fund.
    7. Wang, Qiang & Li, Rongrong, 2016. "Impact of cheaper oil on economic system and climate change: A SWOT analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 54(C), pages 925-931.

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