Why Growth in Emerging Economies Is Likely to Fall

Anders Aslund ()

No WP13-10, Working Paper Series from Peterson Institute for International Economics

Abstract: Emerging-market growth from 2000 to 2012 was extraordinarily high. Aslund cites several factors to explain why emerging-economy growth is likely to be lower in the future. Having caught up with advanced economies in many respects, these countries face limitations on their future catch-up potential. The extraordinary credit and commodity booms are over, and many large emerging economies are financially fragile. They have governance problems and need to carry out structural reforms. The advanced economies, by contrast, have undertaken fiscal consolidation and structural reforms following the recent financial crisis and should experience higher growth rates.

Keywords: growth; slowdown; middle income trap; energy; financial crisis (search for similar items in EconPapers)
JEL-codes: G01 N00 O11 O43 Q33 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-fdg and nep-tra
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Citations: View citations in EconPapers (8)

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