Global economic prospects, January 2015 : having fiscal space and using it.

As in previous years, global growth disappointed in 2014, but a lackluster recovery is underway, with increasingly divergent prospects in major economies and developing countries. Looking ahead, growth is expected to rise slowly, supported by continued recovery in highincome countries, low oil price...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, DC : World Bank Publications, [2015]
Colección:Global Economic Prospects.
Temas:
Since 1990
Economic forecasting.
Economic history > 1990-
International economic relations.
Prévision économique.
Histoire économique > 1990-
BUSINESS & ECONOMICS > Economics > General.
BUSINESS & ECONOMICS > Reference.
Economic forecasting
Economic history
International economic relations
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover
  • Table of Contents
  • Acronyms
  • Acknowledgments
  • Foreword
  • Executive Summary
  • Chapter 1 Global Outlook: Disappointments, Divergences, and Expectations
  • Summary and Key Messages
  • Recent Developments and Outlook in Major Economies
  • Global Trends and Spillovers
  • Easy but Gradually Tightening Financial Conditions
  • Soft Commodity Prices
  • Weak Global Trade
  • Recent Developments and Outlook in Developing Countries
  • Recent Developments
  • Outlook
  • Regional Prospects
  • Risks
  • Financial Market Stress
  • Stagnation in the Euro Area and JapanDisorderly Slowdown in China
  • Weak Potential Growth in Developing Economies
  • Geopolitical Tensions
  • Ebola Epidemic
  • Policy Challenges
  • Major Economies
  • Developing Countries
  • Special Focus: Low-Income Countries: Graduation, Recent Developments, and Prospects
  • Chapter 2 Regional Outlooks
  • East Asia and Pacific
  • Europe and Central Asia
  • Latin America and the Caribbean
  • Middle East and North Africa
  • South Asia
  • Sub-Saharan Africa
  • Chapter 3 Having Space and Using It: Fiscal Policy Challenges in Developing EconomiesIntroduction
  • How Has Fiscal Space Evolved?
  • Definition of Fiscal Space
  • Evolution of Space during the 2000s
  • Space and Policy during Contractions
  • Have Developing Economies Graduated from Procyclicality?
  • Does Greater Space Tend to Support More Effective Fiscal Outcomes?
  • Institutional Arrangements: How Can Fiscal Space Be Strengthened?
  • Fiscal Rules
  • Stabilization Funds
  • Medium-Term Expenditure Frameworks (MTEF)
  • Risks and Medium-Term Objectives
  • ConclusionsAnnex 3A: Technical Information
  • Annex 3B: Statistical Information
  • Chapter 4 Three Topical Issues: Oil Price Developments, Global Trade Slowdown, and Stability of Remittances
  • Introduction
  • Understanding the Plunge in Oil Prices: Sources and Implications
  • How does the recent decline in oil prices compare with previous episodes?
  • What are the causes of the sharp drop?
  • What are the macroeconomic and financial implications?
  • What are the main policy implications?
  • Conclusion
  • What lies behind the global trade slowdown?
  • A cyclical factor: Weak demandA structural factor: Changing relationship between trade and income
  • What explains the lower elasticity of trade?
  • Conclusion
  • Can Remittances Help Promote Consumption Stability?
  • Magnitude, Drivers and Cyclical Features
  • Behavior of Remittances during Sudden Stops
  • Promoting Consumption Stability
  • Conclusion
  • Statistical Appendix
  • Boxes
  • 1.1 What does weak growth mean for poverty in the future?
  • 1.2 Countercyclical monetary policy in emerging markets: Review and evidence

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