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Why could growth rates decrease in emerging market economies?

Listed author(s):
  • Aslund, Anders

    (Peterson Institute for International Economics, Georgetown University)

Growth of emerging market economies from 2000 to 2012 was characterized by unusually high rates. This paper discusses the many reasons why countries with economies in transition will now be developed more slowly. Much of the accumulated potential was squandered. Time commodity boom and the extraordinary scale lending had passed, and most developing countries have lost margin. Their main problems are due to the imperfection of management methods, so they will be forced to carry out a global structural reforms to maintain the momentum of development; However, many politicians still remain groundless arrogance and configured to carry out the necessary reforms. They are trapped in the state and crony capitalism. Before the release of the markets for all the Western countries should take care of their own interests. The period ended with economic convergence, and possibly stop it for years to come. Developing countries need to improve the quality of governance, and to make progress in other areas of the economy to continue catching up development. In the next ten years, the West can take a new economic breakthrough - as in the 1980s.

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File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1413.pdf
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Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

Volume (Year): (2014)
Issue (Month): ()
Pages: 7-34

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Handle: RePEc:rnp:ecopol:ep1413
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  1. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2012. "When Fast-Growing Economies Slow Down: International Evidence and Implications for China," Asian Economic Papers, MIT Press, vol. 11(1), pages 42-87, February.
  2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
  3. Cullen S. Hendrix & Marcus Noland, 2014. "Confronting the Curse: The Economics and Geopolitics of Natural Resource Governance," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6765, November.
  4. Shekhar Aiyar & Romain A Duval & Damien Puy & Yiqun Wu & Longmei Zhang, 2013. "Growth Slowdowns and the Middle-Income Trap," IMF Working Papers 13/71, International Monetary Fund.
  5. Nicholas R. Lardy, 2012. "Sustaining China's Economic Growth after the Global Financial Crisis," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6260, November.
  6. Anders Aslund & Sergie Guriev & Andrew Kuchins (ed.), 2010. "Russia after the Global Economic Crisis," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4976, November.
  7. Daron Acemoglu, 2003. "The Form of Property Rights: Oligarchic vs. Democratic Societies," NBER Working Papers 10037, National Bureau of Economic Research, Inc.
  8. John Williamson, 1994. "The Political Economy of Policy Reform," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 68, November.
  9. Rudiger Dornbusch & Sebastian Edwards, 1991. "Introduction to "The Macroeconomics of Populism in Latin America"," NBER Chapters,in: The Macroeconomics of Populism in Latin America, pages 1-4 National Bureau of Economic Research, Inc.
  10. Arvind Subramanian, 2011. "Eclipse: Living in the Shadow of China's Economic Dominance," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6062, November.
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