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Global Economic Prospects, January 2012
[Perspectivas económicas mundiales : incertidumbre y vulnerabilidad - Resumen ejecutivo]

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  • World Bank

Abstract

The world economy has entered a dangerous period. Some of the financial turmoil in Europe has spread to developing and other high-income countries, which until earlier had been unaffected. This contagion has pushed up borrowing costs in many parts of the world, and pushed down stock markets, while capital flows to developing countries have fallen sharply. Europe appears to have entered recession. At the same time, growth in several major developing countries (Brazil, India and, to a lesser extent, Russia, South Africa and Turkey) is significantly slower than it was earlier in the recovery, mainly reflecting policy tightening initiated in late 2010 and early 2011 in order to combat rising inflationary pressures. As a result, and despite a strengthening of activity in the United States and Japan, global growth and world trade have slowed sharply.

Suggested Citation

  • World Bank, 2012. "Global Economic Prospects, January 2012 [Perspectivas económicas mundiales : incertidumbre y vulnerabilidad - Resumen ejecutivo]," World Bank Publications - Books, The World Bank Group, number 12105, December.
    • Handle: RePEc:wbk:wbpubs:12105
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/12105/GEP4.pdf?sequence=1
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    References listed on IDEAS

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    1. Abhijit V. Banerjee & Esther Duflo, 2008. "What Is Middle Class about the Middle Classes around the World?," Journal of Economic Perspectives, American Economic Association, vol. 22(2), pages 3-28, Spring.
    2. Gupta, Sanjeev & Kangur, Alvar & Papageorgiou, Chris & Wane, Abdoul, 2014. "Efficiency-Adjusted Public Capital and Growth," World Development, Elsevier, vol. 57(C), pages 164-178.
    3. World Bank & International Monetary Fund, 2010. "Global Monitoring Report 2010 : The MDGs after the Crisis," World Bank Publications - Books, The World Bank Group, number 2444, December.
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    4. Nlandu Mamingi & Patrice Borda, 2015. "The Determinants of Economic Growth in The Countries of the Organization of the Eastern Caribbean States [Croissance économique-Econométrie ARDL]," Post-Print hal-02532219, HAL.
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    6. Justin Yifu Lin & Doerte Doemeland, 2012. "Beyond Keynesianism: Global Infrastructure Investments In Times Of Crisis," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 3(03), pages 1-29.
    7. Justin Yifu Lin & Yan Wang, 2016. "Special Section: China's Growing Trade and its Role to the World Economy," Pacific Economic Review, Wiley Blackwell, vol. 21(1), pages 102-117, February.
    8. Dr. B. Nagaraju & Chethan, 2014. "FDI and Growth of Economy – With Reference to Realty Sector in India," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 5(1(1)), pages 55-66, January.
    9. Sharma, Vijay Paul, 2012. "Dismantling Fertilizer Subsidies in India: Some Issues and Concerns for Farm Sector Growth," IIMA Working Papers WP2012-09-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    10. Lin, Justin Yifu & Fardoust, Shahrokh & Rosenblatt, David, 2012. "Reform of the international monetary system : a jagged history and uncertain prospects," Policy Research Working Paper Series 6070, The World Bank.
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    12. Zenebe, Addisalem & Peterson, E. Wesley F., 2013. "The Impact of the African Growth and Opportunity Act (AGOA): An Empirical Analysis of Sub-Saharan African Agricultural Exports," Cornhusker Economics 306810, University of Nebraska-Lincoln, Department of Agricultural Economics.

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