Slowing Growth: More Than a Rough Patch

Ayhan Kose and Franziska Ohnsorge

No 18226, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: Across the world, a structural growth slowdown is underway: at current trends, the global potential growth rate—the maximum rate at which an economy can grow without igniting inflation—is expected to fall to a three-decade low over the remainder of the 2020s. The slowdown could be even more pronounced if financial crises erupt in major economies and spread to other countries, as these types of episodes often lead to lasting damage to potential growth. A persistent and broad-based decline in long-term growth prospects imperils the ability of emerging market and developing economies (EMDEs) to combat poverty, tackle climate change, and meet other key development objectives. These challenges call for an ambitious policy response at the national and global levels.

Keywords: investment (search for similar items in EconPapers)
JEL-codes: E22 E30 E32 E37 F14 O20 O47 (search for similar items in EconPapers)
Date: 2023-06
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Working Paper: Slowing Growth: More Than a Rough Patch (2023)
Working Paper: Slowing Growth: More Than a Rough Patch (2023)
Working Paper: Slowing Growth: More than a rough Patch (2023)
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